Estimates from contractors-vendors before finalizing scope

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Reference no: EM133865735

Question

The statement that represents a project risk is: "Five of the previous seven IT projects have run over budget, as the procurement team requested cost estimates from contractors and vendors before finalizing scope." This is a project risk because it indicates a pattern of cost overruns, which could potentially occur in the current project as well. The procurement team's practice of requesting cost estimates before finalizing scope could lead to inaccurate estimates and budgeting issues.

Reference no: EM133865735

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