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When a project undergoes significant changes, leading to adjustments in its cost, which type of estimate is prepared to reflect these alterations?
4. When a project undergoes significant changes, leading to adjustments in its cost, which type of estimate is prepared to reflect these alterations?
- Revised estimate
- Quantity estimate
- Complete estimate
- Preliminary estimate
Answer
The correct answer is: A) Revised estimate
Explanation
Revised estimates are prepared when substantial changes occur in a project, necessitating adjustments to the initial cost estimations to reflect the new scope or requirements.