My Soup Kitchen project is now at a stage where the costs need to be determined so that I can formulate my budget. To estimate costs, I must use one of the cost-estimating tools and techniques from section 7.2.2 (Estimate Costs: Tools and Techniques) of the PMBOK Guide (sixth edition). Because I am not sure which tools and techniques to use, I need help with the tools and techniques provided with research on them.

Instructions

I need to do a paper explaining why this method would be the best option for my Soup Kitchen project. Here are the guidelines.

Pick a cost/budget concept from thePMBOKGuide (sixth edition)section 7.2.2.

1. I was hoping you could explain the estimating tool or technique I decided to use.
2. Do research using PMBOK GUIDE 6^TH AND 7^TH EDITIONS textbook, two scholarly articles, and two popular sources. I need at least five sources).
3. Explain what my research indicates regarding the estimating technique selected.
4. Are there potential issues that could happen as it relates to the type of project I selected?
5. Is the technique selected being used by other similar organizations or industry participants?
6. I need help with determining which criteria are most important to understand about the technique you selected.