Multiple Choice
Which of the following statements are true about cost estimating (circle all that are true) :
A) the expert opinion method is the same as the cost engineering method
B) the analogy method requires that a similar project or work task was done previously
C) the parametric method is an estimate based on a mathematical formula
D) the analogy method can take into account differences between projects
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The project planning and estimating process (circle
Q3: Statement: The majority of a system's life
Q4: If the actual cost turns to be
Q5: Which method provides the least accuracy when
Q6: Statement: A time-phased budget shows project costs
Q7: Statement: The project cost estimate is derived
Q8: A contingency amount can be (circle one):<br>A)
Q9: The major problem with using traditional budgets
Q10: Statement: The feasible budget region is developed
Q11: Statement: Life cycle costs are the same