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Which of the following statements are true regarding cost estimating techniques?

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

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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2019/01/02
Saiyid Maududi-Oracle Applications Consultant
by Saiyid Maududi-Oracle Applications Consultant , Entrerprise Architect , US Technomatrix, Inc

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. 

Boumediene BENRAHAL
by Boumediene BENRAHAL , Enseignant economie energetique , ESE (Ecole supérieure d’Économie UNIVERSITÉ D'Oran

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

MURAT MIDIK
by MURAT MIDIK , SAP Project Manager , Spectrum Consulting

Thanks for your invitation. The correct answer is B.:  None of the choices are true 

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

B. None of the choices are true

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