TOPIC: Question ID 612692

I need some clarification on this. I was almost positive that the answer was cost estimating and budgeting.

The question statesThe project team is in the process of defining how the project cost will be estimated, budgeted, managed, monitored and controlled. The team members feel they don't have enough knowledge to complete this process and decide to hire an expert to assist them with the task.

The question states that they are in the process of defining how the project costs will be estimated

Please explain.

Daniel,

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