Define cost estimation and discuss its importance in project planning.
Question:
Define cost estimation and discuss its importance in project planning.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Cost estimation is the process of predicting the expenses required to complete a project or produce a product including all relevant resources such as ...View the full answer
Answered By
Parvesh Kumar
I am an experienced Mathematics and Statistics tutor with 10 years of experience teaching students and working professionals. I love teaching students who are passionate to learn subjects or wants to understand any mathematics and statistics concept at graduation or master’s level. I have worked with thousands of students in my teaching career. I have helped students deal with difficult topics and subjects like Calculus, Algebra, Discrete Mathematics, Complex analysis, Graph theory, Hypothesis testing, Probability, Statistical Inference and more. After learning from me, students have found Mathematics and Statistics not dull but a fun subject. I can handle almost all curriculum of mathematics. I did B.Sc (mathematics), M.Sc (mathematics), M.Tech (IT) and am also Gate (CS) qualified. I have worked in various college and school and also provided online tutoring to American and Canadian students. I look forward to discussing with you and make learning a meaningful and purposeful
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Cost And Value Management In Projects
ISBN: 9781119933540
2nd Edition
Authors: Ray R. Venkataraman, Jeffrey K. Pinto
Question Posted:
Students also viewed these Business questions
-
I need three case analysis which follows the below-mentioned criteria. 1. Analysis of a Project Failure Objective : To critically analyze a well-known project that failed or faced significant...
-
QUIZ... Let D be a poset and let f : D D be a monotone function. (i) Give the definition of the least pre-fixed point, fix (f), of f. Show that fix (f) is a fixed point of f. [5 marks] (ii) Show that...
-
1. Define inventory planning and control and describe and discuss its two broad categories. 2. Describe the four main types of inventory. 3. Describe the various types of inventory classifications....
-
Using the DJIA data in Problem 5-39, use exponential smooth with trend adjustment to forecast the opening DJIA value for 2014. Use α = 0.8 and β = 0.2. Compare the MSE for...
-
Distinguish among first-, second-, and third-degree bums.
-
Debate on the assertion If selection and placement decisions are done effectively, individual performance should not vary a great deal, therefore, an incentive system is not necessary.
-
During the early months of the pandemic, many stock prices were very volatile (volatility is defined as a high standard deviation in a stock price during a specified time period). Which of the...
-
Ritter Corporations accountants prepared the following financial statements for year-end 2012: RITTER CORPORATION Income Statement 2012 Revenue ..............................$750 Expenses...
-
Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $147,890 has an estimated useful life of 17 years, has an estimated residual value of $9,000, and is depreciated by the...
-
Demonstrate the links among cost estimation, the WBS, and the project schedule.
-
Describe the essential features of effective value management in projects.
-
A substance is translucent if and only if when held up to a strong light some of the light comes through. Determine whether the following are demonstrative definitions, enumerative definitions,...
-
Reconsider Problem 44 using an incremental present worth analysis. Data from problem 44 Dark Skies Observatory is considering several options to purchase a new deep-space telescope. Revenue would be...
-
The management of Brawn Engineering is considering three alternatives to satisfy an OSHA requirement for safety gates in the machine shop. Each gate will completely satisfy the requirement, so no...
-
Show that the Fourier transform of an imaginary and odd sequence is real and odd.
-
Show that the Fourier transform of a conjugate antisymmetric sequence is imaginary.
-
The term empty input describes what happens when a. the user presses the Spacebar Enter and then the key b. an input operation attempts to read data, but there is no data to read c. the user enters 0...
-
Write the most stable structural formula for tyrosine: (a) In its cationic form (c) As a monoanion (b) In its zwitterionic form (d) As a dianion
-
For the following exercises, rewrite the sum as a product of two functions or the product as a sum of two functions. Give your answer in terms of sines and cosines. Then evaluate the final answer...
-
What is the difference between optimizing a press release for search versus optimizing a press release for social media?
-
What is the difference between a press release and a communication press release?
-
What is the present value of a stream of 5 end-of-year annual cash receipts of $2,200 given a discount rate of 14%? (Round your final answers to 2 decimal places.) a. Use the appropriate table...
Study smarter with the SolutionInn App