PMI PMP Project Manager Certification

Category - Cost Management

What is a standard range for a Rough Order of Magnitude estimate?
  1. -25% to 50%
  2. -50% to 50%
  3. 50% to 100%
  4. -100% to 100%
  5. -50% to 100%
Explanation
Answer: e - The standard range for a Rough Order of Magnitude Estimate is from -50% to 100%. (Editor’s note: I recall this question appearing on the PMI exam.)

Key Takeaway: While that range sounds wide, it is actually very easy to miss in the early stage. A good project manager does in-depth analysis before issuing Rough Order of Magnitude estimates. Note that this guideline suggests (wisely) that you’re better off missing on the high side than the low side.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz