Question

Why is cost estimation necessary in project management?

Answer 1

@@$$..Cost Estimation is necessary in any management. But in project management, it plays a important role bcx To make a project how much cost is required or what cost is needed in future to repair or renew the project... cost Estimation is necessary...@@$$


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Answer 2

Explanation:

Cost estimation process helps in identifying project risks and provides an option to discuss alternatives if new requirements are needed to be added. The accurate project costing plan enables one to weigh anticipated benefits against anticipated costs to assess if the project makes sense.