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What is a common method used to improve the degree of accuracy in estimating costs?
19. What is a common method used to improve the degree of accuracy in estimating costs?
- Using rough estimates
- Ignoring contingency factors
- Relying on past project data only
- Applying standard unit costs and detailed quantity take-offs
Answer
The correct answer is: D) Applying standard unit costs and detailed quantity take-offs
Explanation
Detailed quantity take-offs and the application of standard unit costs lead to more accurate and reliable cost estimates.