Practice Quiz

PMI PMP Project Manager Certification

Category - Cost Management

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What is a standard range for a definitive estimate?
  1. -10% to 5%
  2. -25% to 10%
  3. -5% to 10%
  4. -10% to 25%
  5. -10% to 10%
Explanation
Answer: C - The standard range for a definitive estimate is from -5% to 10%.

Key Takeaway: As with a Rough Order of Magnitude estimate, with definitive estimates it’s better to miss on the high side than the low side. This is a very precise level of estimation - most people can’t guess ages between -5% and 10% accuracy!
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