Historical data can be used to guide estimating costs for a proposed project.

Question

Quizplus · Accepted Answer

Historical data provides information about past projects that can be used to develop estimates for similar projects in the future. This can include cost data, such as labor rates, material costs, and other expenses incurred during previous projects. By comparing historical data to the proposed project, project managers can develop more accurate cost estimates and better plan for potential expenses.

Historical Data Can Be Used to Guide Estimating Costs for a Proposed