Estimate Cost is the process of developing an approximation of the monetary resources needed to complete project activities.

Question

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Estimate Cost is the process of estimating the cost of project activities by analyzing a variety of factors such as resource costs, location, project scope, and other variables. The output of this process is a cost estimate that helps in budgeting for the project and determining whether the project is financially viable.

Estimate Cost Is the Process of Developing an Approximation of the Monetary