A Senior Manager Asks a Project Manager for an Estimated

question 82

Multiple Choice

A senior manager asks a project manager for an estimated budget on a new project. Which of the following is the BEST step for the project manager to take?

• A) Tell the senior manager the estimation is not available yet.
• B) Use the budget from a similar project to generate estimates.
• C) Ask a SME for an opinion and propose an estimate.
• D) Gather the team to immediately generate estimates.

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Definitions:

Bounded Rationality Model

A concept that suggests individuals make decisions based on the limited information available to them and their own cognitive limitations.

Tacit

Knowledge that is understood or implied without being explicitly stated, often difficult to transfer verbally.

Explicit

refers to something stated clearly and in detail, leaving no room for confusion or doubt.

Knowledge Management

The method of producing, distributing, utilizing, and controlling the information and knowledge within an organization.