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A. Parametric estimates involves estimating the cots of individual work packages at the lowest level of detail, and "rolling up" and summarizing the costs at higher levels B. None of the choices are true C. Bottom up estimating is a technique that uses statistical relationship between historical data and other variables to calculate a cost estimate. D. Analogous estimating is generally more costly than other techniques but produces more accurate estimates
Hello Team Happy New Year 2019,
Indirect costs are expenditures or allowances for items other than labour and materials that are necessary for construction but are not typically part of the construction contract. Direct costs are expenditures for the labour and materials used in the construction of improvements.
C. in practical, we need the historical data of the same kind of projects that we have to actualise and other variables to calculate the preliminary estimate costs
Thanks for your invitation. The correct answer is B.: None of the choices are true
B. None of the choices are true