The Estimating Approach That Is Best to Use on Projects

question 82

Multiple Choice

The estimating approach that is best to use on projects where there is an unusual amount of uncertainty surrounding the project and when it is impractical to estimate times and costs for the entire project is known as ___________.

• A) range estimating
• B) parametric procedure
• C) template method
• D) phase estimating method
• E) WBS method

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Definitions:

Subsequent Checks

Checks issued or actions taken following the initial or primary ones, typically as part of a series or sequence.

Drawer's Account

Refers to the bank account from which a check is drawn or payable.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee's name printed on the document.

Bank Draws

Withdrawals or loans taken from a line of credit or banking account, often utilized to manage cash flow or finance operations.