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Once you have the tasks, the top-down or bottom-up estimation approach can be applied.The top-down approach to “how long” is usually done by managers for budget planning, portfolio planning or for conducting feasibility studies.
The trade-off is that project cost and schedule dates aren’t as accurate.
Using the top-down approach, the project timeline and cost accuracy isn’t very precise, as detailed planning hasn’t begun.
The cost and timeline can be used as a range or a guideline, but formal budget and date commitments should wait until detailed planning has completed.
And, it helps define the specific resource skills needed during key phases of the project in order to get a more accurate schedule.
The tradeoff of using a bottom-up approach is that it requires more time.