Which tools and techniques should a project manager use when estimating costs?

Question

Options

• ALessons learned register and cost aggregation
• BProject schedule and resources requirements
• CThree-point estimating and risk register
• DExpert judgment and decision making

• A
  3% (1)
• B
  3% (1)
• C
  89% (32)
• D
  6% (2)

Explanation

Three-point estimating is a recognized cost estimation technique in the PMBOK that uses three values - optimistic (O), pessimistic (P), and most likely (M) - to produce a more accurate estimate by accounting for uncertainty. The risk register is consulted during cost estimation to identify risk-related costs and factor in contingency reserves. Together, they form a valid pairing of tool and input used in the Estimate Costs process. Option A is incorrect because 'lessons learned register' is an input, not a technique, and 'cost aggregation' is used in Determine Budget, not estimation. Option B lists inputs (schedule, resource requirements), not tools or techniques. Option D, while 'expert judgment' is a valid technique, 'decision making' is too generic and not a defined cost estimation tool.

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