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Which of the following methods of estimating project costs are most commonly used in project management? Select all that apply. Analogous estimating, which uses information
Which of the following methods of estimating project costs are most commonly used in project management? Select all that apply. Analogous estimating, which uses information from previous similar projects as a basis for estimating the current project. Top-down estimating, which involves estimating costs based on a percentage of the total project budget. Bottom-up estimating, which involves estimating the cost of work packages accurately before estimating the cost of larger work components. Historical estimating, which relies solely on past data and does not take current project specifics into account. Parametric estimating, which uses a statistical relationship between historical data and other variables called parameters to calculate estimates for activities
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