A senior manager asks a project manager for an estimated budget on a new project. Which of the following is the BEST step for the project manager to take?
A) Tell the senior manager the estimation is not available yet.
B) Use the budget from a similar project to generate estimates.
C) Ask a SME for an opinion and propose an estimate.
D) Gather the team to immediately generate estimates.

Question

Quizplus · Accepted Answer

Using the budget from a similar project to generate estimates is the best step as it provides a data-driven approach based on historical information, which is more reliable than opinions or immediate estimates without proper analysis.

A Senior Manager Asks a Project Manager for an Estimated