1. Tops down budgeting utilize the judgment and experience of a top management team 2. The relationship between cost and time are linear. 3. In which phase of the project has the highest potential for errors in estimates? 4. A recent study shows that more than 83 percent of IT projects fail to meet their financial goals. 5. Which of the following is not a reason why cost estimating is important to projects? 6. Which of the following describes the reason why the issue of “low cost estimates”� can happen on a project? 7. Factors such as inflation, interest rates and environmental issues are considered external factors. 8. According to the text, horror stories of project failure due to unprecedented cost overruns are reporting in the business press on almost a daily basis. 9. Specification changes and the term “�scope creep’ are basically the same. 10. Which of the following is not a significant reason for cost overruns?
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