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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?

1. Revised estimate
2. Quantity estimate
3. Complete estimate
4. 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.