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Cost Estimating

Determining project costs

The process of developing an approximation of the cost of the resources needed to complete project activities.

Concepts covered: Parametric Estimating, Bottom-Up Estimating, Reserve Analysis, Life-Cycle Cost Analysis, Expert Judgment, Fixed-Price Contract, Historical Information Review, Analogous Estimating, Three-Point Estimating, Cost Aggregation, Value Engineering, Cost Escalation, Vendor Bid Analysis, Cost of Quality

Time: 5 minutes   Questions: 5

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