The Conceptual Estimate Is Developed with the Least Amount of Knowledge

question 61

Multiple Choice

The conceptual estimate is developed with the least amount of knowledge. When more information is known, the project team can develop a _____.

• A) work breakdown structure
• B) critical estimate
• C) rough order of magnitude ROM) estimate
• D) scope of work
• E) ballpark estimate

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Definitions:

Group Health Plans

Insurance plans that provide healthcare coverage to a group of members, typically employees of the same company or organization.

Third-Party Payer

A third-party payer is an entity (other than the patient or healthcare provider) that pays for healthcare services, often an insurance company or government program.

Insurance Company

An organization that provides risk management by offering compensation for losses in exchange for payment of premiums.