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.

Question

Alexis Eavey · Accepted Answer

Final Answer : D, Explanation :  In the earliest stages of project selection, estimates are usually made using estimates based from previous projects. This is because there may not be enough information available yet to make detailed estimates. The other options are incorrect as social factors are not necessarily the most important consideration, estimate methods used during selection may be quicker, appropriate resources should be used regardless of project location, and experienced managers can make accurate estimates even with limited information.

Definitions

Learning Objectives

Learning Objectives

Related questions