Question

Studies of IT projects reveal that: A) initial cost estimates are overrun by an average of 15 B) over 66 C) about 25 D) up to 75?

1) initial cost estimates are overrun by an average of 15
2) over 66
3) about 25
4) up to 75

Answer 1

The correct answer is Option 1) initial cost estimates are overrun by an average of 15.

Step-by-step explanation:

The correct answer is Option 1) initial cost estimates are overrun by an average of 15.

Studies of IT projects have shown that on average, initial cost estimates are overrun by 15%. This means that the actual cost of the project is, on average, 15% higher than the estimated cost. For example, if the initial estimate for a project is $100, the actual cost would be around $115.