Chapter 29 Flashcards
1
Q
Who do cost estimation of project
A
Project manager
2
Q
What factors effect cost estimation
A
- human factor
- technical factor
- environmental factor
- political factor
- Project size
3
Q
When we achieve 100% accurate estimates
A
When project is completed
4
Q
What are decomposition techniques
A
To generate cost and estimations
5
Q
What are cost estimations models/methods
A
1- Past experiences of similar projects or conditions
2- Simple decomposition techniques for cost estimation
3- Use empirical models
4- Other viable approaches
6
Q
What is decomposing
A
Make smaller parts of cost estimations for simplicity
7
Q
Is there any risk in estimation
A
Yes
8
Q
What is risk in estimation
A
Risk is measure by the degree of uncertainty in the quantitative cost of resources, material and etc
