Estimate costs is the process of developing an approximate cost of resources needed to complete the project. It is done periodically throughout the project, to reflect when additional details are available. Costs are estimated for labor, materials, equipment, services, facilities etc.

The project in the initiation phase has the ROM (rough order of estimate) of?

A. -25 % to +75%

B. -5 % to + 10%

C. – 25 % to + 50 %

D. None of the above