Question: Incorrect cost estimates can negatively impact project schedules. Consequently, it is critical to have an effective estimating process, which can vary by project. Provide a

Incorrect cost estimates can negatively impact project schedules. Consequently, it is critical to have an effective estimating process, which can vary by project. Provide a brief project scenario (describe the purpose of the project) and recommend an appropriate estimating approach. Provide reasons for why the approach is appropriate for the given situation.

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