What is FALSE about rough order of magnitude (ROM) budget estimates?

Select an answer:

a-ROMs are usually based on knowledge of similar projects.

b-ROMs should have a variance of minus 10% to plus 15% of the actual cost.

c-ROMs provide an initial cost estimate to determine whether a project is viable.

d-ROMs are built at the project initiation stage.

-To build a project budget, Liam considers federal tax regulations and his company's budgeting cycle. According to the Project Management Institute, how are those two factors classified?

Select an answer:

a-as enterprise environmental factors

b-as variable cost factors

c-as non-compete factors

d-as GAAP factors