The process of developing an approximation of the cost of the monetary resources needed to complete project activities is known as: Estimate Cost.
The term cost estimation is refers to as the process of estimating all of the costs together with completing a project as per its timeline.
Firstly, high-level estimation are used in the beginning stages of project planning and can determine whether or not a project is ultimately pursued.
Once a project is approved and an organization started gather more detailed and granular cost estimates become necessary.
A thorough cost estimate should include both the direct and indirect costs associated with bringing a project through to completion. Depending on the specifics of the venture, this will likely include various overhead costs.
Learn more about Estimate Cost, refer to the link:
https://brainly.com/question/21133072
#SPJ1
