The Process of Forecasting or Approximating the Time and Cost

question 101

Multiple Choice

The process of forecasting or approximating the time and cost of completing project deliverables is called

• A)Budgeting.
• B)Predicting.
• C)Estimating.
• D)Planning.
• E)Guesstimating.

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance payments.

Variable Costs

Costs that vary directly with the level of production or sales volume, such as raw materials and direct labor costs.

CIO's Salary

The compensation package awarded to a Chief Information Officer, reflecting responsibilities in overseeing an organization's technology strategy.

SaaS

Software as a Service; a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over the internet.