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A project manager is preparing a budget estimation for an international construction project.

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A project manager is preparing a budget estimation for an international construction project. They decide to consult the project team members who are experienced in this type of project and are familiar with the local laws of the country.

Which budgeting approach would be the least risky for the project team to apply?

A.

Review historical data and provide parametric estimations for the activities, including local law restrictions.

B.

Use a top-down estimation and add contingencies to cover any future impacts regarding the legal context.

C.

Make a general estimation using a standard legal approach and then look to include early definitions.

D.

Discuss and compile the local information about laws to develop bottom-up estimations.

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