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Describe sunk cost. Give some examples for an IT project, from your personal life. Explain why it is not easy to disregard sunk cost. Explain

  1. Describe sunk cost. Give some examples for an IT project, from your personal life. Explain why it is not easy to disregard sunk cost.
  2. Explain the process of determining the project budget.
  3. Based on your experience or what you have learned/researched, how does costing differ between traditional and agile approaches?

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