The Order of Magnitude Cost Estimate Is Used When

question 72

Multiple Choice

The order of magnitude cost estimate is used when:

• A)ballpark estimates are not considered accurate enough.
• B)historical data are readily available.
• C)information or time is scarce.
• D)parametric estimation has already been performed.

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Definitions:

Objectively Interpret

The process of understanding or analyzing information based on facts and without personal bias.

Validity

The extent to which a test or procedure accurately measures what it is intended to measure.

Predictive Validity

The extent to which a score on a scale or test predicts future performance on a related outcome.

Content Validity

The extent to which a test measures all aspects of the concept it intends to assess, ensuring the test is representative of the subject matter.