A Way to Improve Estimates on Future Projects Is to Collect

question 25

Multiple Choice

A way to improve estimates on future projects is to collect and archive data on past project estimates and actuals. Creating ___________ for estimating is a way to achieve this goal.

• A) time and cost databases
• B) history databases
• C) estimating and forecasting databases
• D) structured databases
• E) Any of these alternatives are correct.

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Definitions:

Beginning

Beginning, in financial terms, often refers to the starting point or initial value of an account, inventory, or financial statement at the onset of a period.

Nominal Annual Interest Rate

The percentage of interest charged on a loan without adjustment for the effect of compounding or inflation over a period of a year.

Deposits

Funds placed into an account at a banking institution, typically earning interest over time.

Compounds Interest

Refers to the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.