Accurate cost estimation is useful both in understanding past cost relationships and as a means of predicting costs.

Name: Accurate cost estimation is useful both in understanding past cost relationships and as a means of predicting costs.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Accurate cost estimation can help to understand past cost relationships and also to predict costs in the future. It is an important aspect of project management and can aid decision-making processes related to budgeting, resource allocation, and project planning.

Accurate Cost Estimation Is Useful Both in Understanding Past Cost