Question

which of the following descriptions relates to roll-up estimating? a.) calculates all costs for a project by specifying a value for the lowest level project activities b.) includes only the true costs for completing a project, without providing any options for changes c.) identifies money that should be added to a project budget to manage potential project overages d.) refers to budgets from previous projects that are similar to create estimates for the current project

Answer 1

Roll-up estimating calculates project costs by specifying a value for the lowest level project activities and then aggregating these to form the total project cost. It often involves mathematical models and normalization of costs for comparison.

Step-by-step explanation:

The description that relates to roll-up estimating is a.) calculates all costs for a project by specifying a value for the lowest level project activities. Roll-up estimating, also known as bottom-up estimating, involves determining costs for individual tasks and then aggregating them to arrive at a total project cost. It is a meticulous approach that requires a detailed understanding of the project's activities. Mathematical models can be used to assist in estimating costs by taking into account materials, fabrication, operation, and maintenance expenses. These costs are then normalized to compare with other options, for example, cost per thousand gallons of water for a water treatment project.