Preliminary cost estimates are developed during the feasibility phase of a project. These early estimates help determine whether a project is viable and worth pursuing, guiding initial decision-making and budgeting discussions.
A (Design) and B (Development) phases involve more detailed cost estimates.
C (Execution) is when implementation begins, after funding is approved.
[References:, PSP Study Guide – Project Phases and Cost Planning, POA Manual – Feasibility Analysis in Project Management]
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