William, a project manager, needs to prepare the budget for a new software development project. To do so, he takes inputs from o
ther managers who have worked orn similar projects in the past. After estimating the overall project cost, he gives the estimates to his team members so that they car split up the cost of each individual task involved in producing the required deliverable. In this scenario, William is using:______. a. top-down budgeting
Top down budgeting is a type of budget in which the senior management prepares a high level budget for the company. The senior management then allocates the amounts for the individual departments, which then use this number in preparing their own budget.
