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You have just initiated a new project in your organization. At the initial meeting with the stakeholders, several of them...

expressed concerns about the size of the budget.  As the project manager, you coach the stakeholders by telling them that the project is being undertaken as a progressive elaboration. As a result, the initial budget estimate covers a wide range of+/-% because not a lot is known about the project yet. This type of estimate is known as:

a. Budget estimate

b. Rough order of magnitude estimate

c. Definitive estimate

d. Predictive uncertainty estimate

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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2016/05/17
Ghada Eweda
by Ghada Eweda , Medical sales hospital representative , Pfizer pharmaceutical Plc.

A correct answer is alreday given by experts.thanks

Eng Ahmed Elsharkawy
by Eng Ahmed Elsharkawy , Civil Engineering Project Manager , Altwijry office

thanks for invition ,,,,,,,,,, my choice is option B

Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

B -  +/-% is the definition of a rough order of magnitude. A budget estimate is -% to plus%. A  definitive estimate is +/ -%, and a predictive uncertainty estimate is a made-up term.

sardar mardookhy
by sardar mardookhy , Head of portfolio management department , MCI

B Option,

 

Thanks for invite................

Mohamed Helal
by Mohamed Helal , Project Manager , GROUP CONSULT INTERNATIONAL

................. b. Rough order

I apologize for the answer I leave the answer to the specialists the experts in the this field that's not my area.

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