Q. 1.Express an environment in which it would be common to bid for contracts with low profit margins. Illustrate what does this environment suggest about the competition levels?

2. Explain how has the global economy affected the importance of cost estimation also cost control for many project organizations?

3. Imagine you were developing a software package for your industry's intranet. Provide e.g. of the various types of costs (labour, materials, equipment also facilities, subcontractors, etc.) also explain how they would apply to your project

4. Provide reasons both in favour of also against the use of personal time charge as a cost estimate for a project activity.

5. Think of an e.g. of parametric estimating in your personal experience, like the use of a cost multiplier based on a similar, past cost. Did parametric estimating work or not? Discuss the reasons explain why.

6. Consider the common problems with project cost estimation also recall a project with which you have been involved. Which of these common problems did you encounter most often? Explain why

7. Would you prefer the use of bottom up or top down budgeting for project cost control? Illustrate what are the advantages also disadvantages with each approach?