Project Management Professional (PMP) Exam Practice – Question1425

You receive a frantic phone call from your vice president who says she is going to meet with a prospective client in 15 minutes to discuss a large and complex project. She asks you how much the project will cost. You quickly think of some similar past projects,
factor in a few unknowns, and give her a number. What type of estimate did you just provide?


A.
Definitive
B. Budget
C. Order-of-magnitude
D. Detailed

Correct Answer: C

Explanation:

Explanation:
An order-of-magnitude estimate, which is referred to also as a ballpark estimate, has an accuracy range of -25% to 75% and is made without detailed data.