Explain the Difference Between the Engineering Method of Cost Estimation

question 98

Essay

Explain the difference between the engineering method of cost estimation and the account analysis method.

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Definitions:

Self-Serving Bias

The tendency to attribute one’s successes to personal factors and one’s failures to situational factors.

Fundamental Bias

An inherent inclination or prejudice that consistently affects judgement or decision-making.

Interpersonal Factors

Elements pertaining to relationships or interactions between individuals that can influence behavior, emotions, and personal development.

Internal Attribution

The process of assigning the cause of behavior to something within the individual, such as their personality, disposition, or attitude.