What cost estimating technique would be most appropriate for the following situa

Question

What cost estimating technique would be most appropriate for the following situation? Engineering and Manufacturing Development ( The estimate for a major system component is due several months from now. So you have some time to develop the cost estimate. This component constitutes roughly 25 percent of the total system cost, so the estimate needs to be very accurate and objective. The engineering design effort has completed the detailed design drawings and the contractor has a detailed Work Breakdown Structure (WBS).

Explanation / Answer

Engineering

It refers to a detailed cost estimate for a project, computed by estimating the cost of every activity in a work breakdown structure, summing these estimates, and adding appropriate overheads.

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