Overview The requirements for 1.2 Communication completed have been agreed to, and you now have to come up with a cost estimate. Your team has determined the following quantity estimates, and you have good historical rates from previous projects. Also, there are overheads. For the whole project, there is a 20% overhead to be added to the estimate. Additionally, based on experience you should add 10% for the event-related activities. Exercise Requirements - What is your estimate? - Why is the estimate different from the $25,000 In-person cost estimate used Exercise 2 for the selection of the communication alternatives? - Should you be concerned about the difference? Purpose of Exercise - Develop skill in estimating. - Understand different types of project estimating