Which of the following are potential ways to reduce cost escalation (circle all that apply):
A) using a fixed price contract
B) making estimates by people who tend to be optimistic
C) making final cost estimates at the earliest possible date in the planning process
D) monitoring and controlling project costs and activities

Question

Quizplus · Accepted Answer

A fixed price contract can help control costs by setting a predetermined price, thus preventing cost overruns. Monitoring and controlling project costs and activities allows for adjustments and interventions to keep costs within budget.

Which of the Following Are Potential Ways to Reduce Cost