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:

Analytic Thought

A cognitive process involving logical reasoning, comparison, classification, and evaluation to solve problems or understand concepts.

Concrete Operational

A stage in Piaget's theory of cognitive development in which children aged 7 to 11 years become capable of logical thought processes but are still limited to thinking about physical and concrete objects.

Intuitive

Pertaining to knowing or understanding something without the need for conscious reasoning; often relating to gut feelings or instincts.

Emotional

Pertaining to feelings or emotions, often referring to how individuals experience, express, or manage their emotional state.