Question: Lucy is currently preparing a high-level cost estimate for her project in the initiation phase. With the limited detail available to her, what would you

Lucy is currently preparing a high-level cost estimate for her project in the initiation phase. With the limited detail available to her, what would you expect the range of her estimate to be, and what would you call such an estimate?

-25 to +25%, Absolute Cost

-5 to +10%, Narrow

-1 to +1%, Definitive

-25 to +75%, Rough Order of Magnitude

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