Cost budgeting can be best described by which of the following?
A). The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project
B). The process of assembling and predicting costs of a project over its life cycle
C). The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed
D). The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis
Answer:C
Cost budgeting can be best described by which of the following?
A). The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project B). The process of assembling and predicting costs of a project over its life cycle C). The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed D). The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis