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Describe the cost estimating process


Describe the cost estimating process



- The cost estimating process is used to develop accurate cost estimates for the resources needed to complete each activity of the project

- The human resource time estimates have already been done, so in this part of the process simply apply the relevant burden rate for each selected resource

- Next, accurate cost estimates need to be created for all types of resources not just human resources such as: materials, equipment, and facilities

- Remember cost estimating is done in a progressive elaboration manner
francis1897 answered the question on March 14, 2023 at 08:29

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