Question: Question 4. (25 marks) i. State and explain the two approaches for creating estimates, explaining the conditions advisable for each of the methods mentioned above

 Question 4. (25 marks) i. State and explain the two approaches

Question 4. (25 marks) i. State and explain the two approaches for creating estimates, explaining the conditions advisable for each of the methods mentioned above to be used. Why would you choose one over the other, explain. ii. Write short notes on the differences between: Request for information (RFD), Request For proposal (RFP) and Request for quotation (RFQ), giving examples on the appropriate use of each. ONE iii. Briefly describe what happens in each of the FIVE project management process groups (initiating, planning, executing, monitoring and controlling, and closing). iv. Describe and explain the three main types of contracts. Write short notes on the apportionment of risk in each

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