Which of the following involves developing an approximation of the costs of resources needed to complete a project?
A)Determining the budget
B)Finalising the cost baseline
C)Controlling costs
D)Estimating costs

Question

Which of the following involves developing an approximation of the costs of resources needed to complete a project?
A)Determining the budget
B)Finalising the cost baseline  
C)Controlling costs
D)Estimating costs

Quizplus · Accepted Answer

Estimating costs involves developing an approximation or estimate of the costs of the resources needed to complete a project. The main outputs of the cost estimating process are activity cost estimates, basis of estimates, and project documents updates.

Which of the Following Involves Developing an Approximation of the Costs