Reasons why estimating time and cost are important include all of the following except Quizlet
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Which of the following describes the consensus method? Show A. Should be used only for projects that require the same task, group of tasks, or product to be repeated several times B. Uses several people with relevant experience regarding the task at hand to make time and cost estimates C. Uses pooled experience of senior and/or middle managers to estimate the total project duration and cost D. Uses the number of square feet to estimate the total cost and time of the project E. Uses weighted macro variables or major parameters such as the number of inputs or outputs to estimate the total cost and time of the project Which of the following describes the consensus method? A. Should be used only for projects that require the same task, group of tasks, or product to be repeated several times B. Uses several people with relevant experience regarding the task at hand to make time and cost estimates C. Uses pooled experience of senior and/or middle managers to estimate the total project duration and cost D. Uses the number of square feet to estimate the total cost and time of the project E. Uses weighted macro variables or major parameters such as the number of inputs or outputs to estimate the total cost and time of the project Why is estimating time and cost important?Why is cost estimation important in project management? Every business has a budget and wants to know if a project is worth the costs before they invest in it. A project estimate gives you and your stakeholders a general idea of how much time, effort, and money it'll take to get the job done.
What is time and cost estimation?– The process of forecasting or approximating the time and cost of completing project deliverables. – The task of balancing expectations of stakeholders and need for control while the project is implemented.
Is used when projects closely follow past projects in features and costs quizlet?Firms seeking greater rigor will use the Delphi Method to make these macro estimates. Used wen projects closely follow past projects in features and costs. Given good historical data, estimates can be made quickly with little effort and reasonable accuracy.
What is a good starting point for developing time and cost estimates?A. Past experience. Past experience is a good starting point for developing time and cost estimates.
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