Question $3$

How might cost estimating be used as a risk management tool for a construction project?

Mark all that apply.

Comparing the cost estimate and the actual costs incurred allows a project manager to take action

to address higher risk items, such as allocate more resources to them or subcontracting them out

Allows identification of the work items that are well$-$defined or poorly$-$defined

Justifies finger$-$pointing and the "blame game" between Project Managers and Estimators at the end

of an over$-$budget project

Provides the basis for determining if a work item is over or under budget