Final answer:
option a,The process of collecting projected cost data for work packages is Cost Estimation, which uses mathematical models and requires an understanding of relationships between variables.
Step-by-step explanation:
The process that involves collecting data about the projected cost of work packages is Cost Estimation. During the design process, mathematical models are employed to estimate costs for various approaches, including the science behind a technique and the costs associated with materials, fabrication, operation, and maintenance. These estimated costs are then normalized to allow comparison on a cost-per-thousand gallons of water basis. Effective cost estimation requires understanding how variables may be related, and using this relationship to practice the art of estimation.
Cost Estimation is the process that involves collecting data about the projected cost of work packages. It is a vital step in project management as it helps in determining the overall budget for a project. In cost estimation, mathematical models are used to roughly estimate costs for different approaches and alternative solutions. These models analyze the linkage between the science behind a technique and the cost of implementing it.