One of the Reasons Why Project Cost Estimates Are Inaccurate

question 57

True/False

 One of the reasons why project cost estimates are inaccurate is because human beings are biased toward underestimation.

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Definitions:

Preapproach

A sales strategy where research and planning are conducted before making initial contact with potential customers.

Follow-up

The act of making additional contact or taking further action after an initial interaction or event.

Personal Selling Process

A sequence of steps a salesperson follows to engage a potential customer, demonstrating how their product or service can meet the customer's needs, ultimately leading to a sale.

Prospecting

The process of searching for potential customers, clients, or buyers in order to develop new business.