A Key for Developing Project Cost Estimates Is To

question 96

Multiple Choice

A key for developing project cost estimates is to:

• A)Cost the project while considering the total package.
• B)Cost the project on a work package and task basis.
• C)Cost the project on a major module basis.
• D)Cost the project and add 33% for contingency.

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Definitions:

Utility

In economics, a measure of satisfaction or happiness that individuals get from consuming goods and services.

Time Utility

The value added to products or services by making them available at the right time to meet consumer needs.

Multitouch

A technology that enables a surface (such as a touchscreen) to recognize the presence of more than one point of contact with the surface simultaneously.

Goodwill

The intangible asset that arises when a business is acquired for more than the fair value of its visible, tangible assets; often related to the brand reputation, customer loyalty, and other factors not directly quantifiable.