There is no general agreement of standard project phases and tasks in current project management literature and therefore there are no commonly accepted time estimates or standard processing rates.However,there is agreement as to several points related to the estimation process.Which of the following is not an agreed-upon point in the estimation process?
A) Estimates are only estimates no matter how well thought out.
B) Initial estimates regarding time and costs are almost always too high.
C) The accuracy of estimation improves considerably as a project proceeds toward completion.
D) Costs are frequently higher than originally estimated.

Question

Quizplus · Accepted Answer

Initial estimates regarding time and costs are more often criticized for being too low rather than too high, as they frequently underestimate the complexity and scope of the project.

There Is No General Agreement of Standard Project Phases and Tasks