Question: What are some approaches for creating a cost estimate? Why is it important to develop a good cost estimate?

What are some approaches for creating a cost estimate? Why is it important to develop a good cost estimate?

Step by Step Solution

★★★★★

3.48 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Project Management Questions!

Q:

Harsh Electrical: Analyzing cost in search of profit Prepare a cost of goods sold statement for Harsh Electrical Considering Harsh Electrical's product and period costs, create a projected income...

Q:

Why is it important for managers to identify the marketing objective before beginning their analysis and before making decisions? Give a short example (real or hypothetical) to illustrate your point....

Q:

re Regular Languages and Finite Automata (a) Let L be the set of all strings over the alphabet {a, b} that end in a and do not contain the substring bb. Describe a deterministic finite automaton...

Q:

THIRD AVENUE SOFTWARE HEALTH-CARE APP PROJECT This case is new for the ninth edition of Information Technology Project Management . The case provides an opportunity to apply agile and Scrum...

Q:

6. What are some approaches for creating a cost estimate? Why is it important to develop a good cost estimate? What do you think about the cost estimating approach used on the VAPR project?

Q:

6. What are some approaches for creating a cost estimate? Why is it important to develop a good cost estimate? What do you think about the cost estimating approach used on the VAPR project?

Q:

Read the Planning Chapters thoroughly before answering the following three questions: (1) Why does having good plans help project teams during project execution? (2) What are the main planning...

Q:

4. What are some approaches for creating a WBS? Why is it important to develop a good WBS?

Q:

3. What are the main planning processes performed as part of project scope management? What are some approaches for creating a WBS? Why is it important to develop a good WBS? What do you think about...

Q:

What are some approaches for creating a WBS? Why is it important to develop a good WBS?

Q:

What are some approaches for creating a WBS? Why is it important to develop a good WBS for predictive projects? How are epics and user stories similar to a WBS?

Q:

import java.util.ArrayList;public class ArrayListTestProgram { public static void main(String args[]) { int total = 0; ArrayList numbers; System.out.println("The ArrayList looks like this: " +...

Q:

Each H H eclipsing interaction in ethane costs about 4.0kJ/mol. How many such interactions are present in cyclopropane? What fraction of the overall 115 kJ/mol (27.5kcal/mol) strain energy of...

Q:

The choice of whether to use a plantwide rate or departmental rates depends on the products and the production process revenue goals of the company types of allocation drivers to be used the costs...

Q:

How to identify costs relevant for management decisions. LO.1

Q:

How can you minimize or control changes to project schedules? LO.1

Q:

List some of the reports you can generate with Project 2010 to assist in project time management. LO.1

Q:

Why is it difficult to use project management software well? LO.1

Q:

Match the steps for creating the draft presentation slide deck with their correct descriptions, according to our textbook. First [ Choose ] Write notes for each slide Second Insert placeholder slides...

Q:

Consider the following table: Scenario Severe recession Mild recession Normal growth Boom Probability 0.10 0.20 0.40 0.30 Stock Fund Rate of Return -36% -16% 21% 26% Bond Fund Rate of Return -9% 15%...

Q:

Crane Dental Supply Company issued $ 2 2 6 0 0 0 0 of 5 % , 5 - year bonds at 9 5 , which pay interest annually. Assuming straight - line amortization, what is the total interest cost of the bonds? $...