Describe three common methods employed in estimating costs
What will be an ideal response?
ROME, AHE, and DE are three common methods. Rough Order of Magnitude Estimate provides a rough estimate of what a project costs before the actual project has started. The approximate historical estimates are made without detailed knowledge of a project. Detailed estimates are prepared from well-developed plans and real quotes.
You might also like to view...
OLAP applications are usually installed on a special server that communicates with both the user's computer and the server or servers that contain a data warehouse or _____.
A. house databases B. information silos C. relational applications D. dimensional databases
The present value index is computed using which of the following formulas?
A) Amount to be invested/Average rate of return B) Total present value of net cash flow/Amount to be invested C) Total present value of net cash flow/Average rate of return D) Amount to be invested/Total present value of net cash flow
Depreciation is considered a source of funds because it does not represent an out-of-pocket expense.
Answer the following statement true (T) or false (F)
Which system of job evaluation are raters using when they take cards that list the duties and responsibilities of the job and arrange them in order of the importance of the jobs?
A. Point method B. Job ranking C. Job grade system D. Factor comparison method