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.

---

Definitions:

Empirical Data

Information obtained through observation or experimentation, serving as a foundation for research and analysis.

Rational Argument

A logical discussion composed of premises leading to a conclusion, based on facts and reasoning rather than emotions or fallacies.

Selectively Providing

The strategy of offering resources or information to specific groups or individuals based on certain criteria or needs.

Structuring Events

Key occurrences or interventions that shape the direction, dynamics, or framework within which activities and processes operate.