A project manager is working on a construction project.

In a situation where a project manager is asked to provide cost estimates for a new decoration project within a short time frame, the best approach would be to contact a subject matter expert (SME) for advice and consultation12. This is because SMEs have the necessary expertise and experience to provide accurate and reliable cost estimates quickly12. They can provide insights into the costs of materials, labor, and other factors that are crucial for the project12. This approach ensures that the cost estimates are as accurate as possible, which is crucial for the success of the project12.