Making a decision using project management methodology

Assume you are either Mike or Josh; how would you go about making a decision using project management methodology? Explain in 250 words (2 Marks).
Looking first at only cost, what decision would you make? Explain in 250 words (2 Marks).
After cost, what other factors should be considered before making a decision? Explain in 250 words (2 Marks)
Discuss top-down and bottom-up estimating and different approaches used. (250 words) (2 Marks)
Discuss different project management structures. (250 words) (2 Marks)