Question

Difference between forward looking and backward looking in cost and schedule estimating process

Answer 1

Explanation:

Forward Looking Approach

In forward-looking approach, top down methodology, it starts with the overall budget, then comes down to intermediate milestones, then these milestones are subdivided into micro level budgets which are each analysed for costing and scheduling

Backward Looking Approach

The other approach is backward-looking, bottom-up methodology, it starts with the end target in view, analyze the micro-level budgets and schedules, then pick all these elements into the higher level budgets and intermediate milestones