SOFTWARE PROJECT MANAGEMENT
PROJECT PLANNING AND ESTIMATION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Software Cost
|
|
|
Hardware Cost
|
|
|
Personnel Cost
|
|
|
All of these
|
Detailed explanation-1: -Depending on the specifics of the venture, this will likely include various overhead costs (utilities, labor, etc.), labor costs (including both time and wages paid), materials and equipment costs, vendor fees (if the project requires third-party workers, freelancers, or other contractors), and more.
Detailed explanation-2: -A cost estimate is more than a list of costs. It also includes a detailed Basis of Estimate (BOE) report that describes the assumptions, inclusions, exclusions, accuracy and other aspects that are needed to interpret the total project cost. Otherwise, it would be a meaningless number.
Detailed explanation-3: -The three types of cost estimates are design, bid, and control estimates. Design estimates are prepared in the project preliminaries which gives the order of magnitude of the project cost.