Question: b) In Industry and commerce, it is common to classify estimates according to three different levels of detail and accuracy. (0) List the term used

b) In Industry and commerce, it is common to

b) In Industry and commerce, it is common to classify estimates according to three different levels of detail and accuracy. (0) List the term used for each of the three estimate classification types, and state the level of accuracy associated with each (as a percentage). (ii) Estimating classifications relate quite closely to the project lifecycle phases. Provide a diagram depicting the different estimate classifications mapped to the project lifecycle (Estimating Costing Continuum). Your diagram should include axis depicting; the level of accuracy of the estimate and the cost of producing the estimate across the project lifecycle

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