The process of developing an approximation of monetary resources needed to complete project activities is known as:
A) determine budget.
B) estimate resources.
C) estimate cost.
D) estimate activities.

Question

The process of developing an approximation of monetary resources needed to complete project activities is known as:​ 
A) determine budget. 
B) estimate resources. 
C) estimate cost. 
D) estimate activities.

Quizplus · Accepted Answer

The process of developing an approximation of monetary resources needed to complete project activities is known as estimating cost. Option A refers to determining the overall cost baseline for the project. Option B is related to determining the type and quantity of resources needed for the project. Option D refers to estimating the duration, effort, and resources needed for each individual activity within the project.

The Process of Developing an Approximation of Monetary Resources Needed