Question $2$

$1pts$

Which of the following is true about consensus method of estimating project time and costs?

Uses ratios to estimate costs $($ex: $\frac{\text{\$}}{?}$ foot$)$

Utilizes pooled experience of senior managers to estimate duration$/$cost

Used when there is significant uncertainty associated with the time or cost

Utilizes performance improvement patterns to estimate repetitive work

Allocates a portion of the budget to major elements of work based on historical performance