Are project cost estimate scenarios budgets or predictions? Understanding a cost estimate scenario as a budget would mean that it is developed based on money that is available while understanding it as a prediction would mean that the cost estimate scenario is developed based on the project needs (Feng and Chen, 2010, pp. 347-349; Sodikov, 2005, p. 1036).
Are project cost estimate scenarios budgets or predictions? Understanding a cost estimate scenario as a budget would mean…