In Estimating Costs to Compare and Select Projects, Which of the Following

question 28

Multiple Choice

In estimating costs to compare and select projects, which of the following is true

• A) Social factors are the most important consideration when choosing between competing projects.
• B) The methods used to estimate the cost of the project during the selection phase are slower than those used to create detailed estimates in later phases.
• C) The amount of time and resources used to make estimates should be appropriate primarily to the location of the project.
• D) Estimates in the earliest stages of project selection are usually made using estimates based from previous projects.
• E) Experienced managers can make accurate estimates only with more detailed information.

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Definitions:

High Flexibility

The capability to adapt quickly and effectively to new conditions, changes, or challenges.

Matrix Structure

An organizational structure that combines elements of both functional and project-based structures, facilitating resource sharing and functional expertise.

Horizontal Structure

An organizational layout that emphasizes teamwork and collaboration among departments or teams, with a minimal level of hierarchy.

Divisional Structure

An organizational arrangement where operations are grouped based on similar products or services, markets, or geographic locations.