Iam looking to estimate the cost on a project, but I don’t want to spend a lot of time on a detailed analysis. I really want a ballpark figure. What options do I have?

A) None – Cost estimating requires details to be accurate

B) Use the cost of similar projects

C) Use a rule-of-thumb or per-square-foot estimate

D) Add up the costs on the WBS

View Answer
Option – B.