Identify and discuss at least three different approaches to Cost Estimation.

InstructionsBMGT 487 – Team Assignment #5: Cost Estimation Techniques (Week 5) NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 7th Ed. (Students are held accountable for in-text citations and an associated reference list only).Team Deliverable 5 is due Tuesday at 11:59 p.m. eastern time of week 5 unless otherwise changed by the instructor.Purpose: Students will learn how to use cost estimation techniques to estimate costs Outcomes Met With This Assignment:contribute to a team activity to accomplish the goals of a project, recognizing the unique strengths and talents of individual team membersplan a project that meets organizational goals and that has a high probability of successInstructions: This assignment is the fifth of seven team assignments. As a team, you will learn about cost estimation approaches and select the approach to use for the project your group selected in Week 1. Step 1: Preparation for Writing the AssignmentBefore you begin writing the paper, read the following requirements that will help you meet the writing and APA requirements. Not reading this information will lead to a lower grade: Read the grading rubric for the assignment. Use the grading rubric while writing the paper to ensure all requirements are met.Third person writing is required. Third person means that there are no words such as “I”, “me”, “my”, “we”, or “us” (first person writing), nor is there use of “you” or “your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.Contractions are not used in business writing, so you are expected NOT to use contractions in writing this assignment. For all source material used in the analysis, you will paraphrase and not use direct quotation marks but will instead paraphrase. What this means is that you will put the ideas of an author or article into your own words rather than lifting directly from a source document. You may not use more than four consecutive words from a source document, as doing so would require direct quotation marks. This requirement include facts from the case scenario. Changing words from a passage does not exclude the passage from having quotation marks.You are responsible for APA only for in-text citations and a reference list. At a minimum, this deliverable should include in-text citations and references for information relating to the organization’s purpose, goals, strategy, and/or objectives.You are expected to use the weekly courses readings to develop the analysis and support the reasoning. The expectation is that you provide a robust use of the course readings. Any material used from a source document (including both course readings and outside materials) must be cited and referenced. A reference within a reference list cannot exist without an associated in-text citation and vice versa. Set Up the Paper Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font. The final product does not have a page limit but you want to make sure to write clearly and concisely. Follow this format. Consider making an outline to ensure the correct headings are in place and to keep you organize the paper. 3: Brainstorm Under Discussion on the main navigation bar, locate your group. In the LEO classroom (do not use external systems), participate in a brainstorming and collaboration session to learn about cost estimation techniques and how to estimate costs.Identify and discuss at least three different approaches to Cost Estimation. Discuss which approach is the best fit for your project and why you chose the approach. Step 4: Cost Estimation Approach Concisely provide a summary of the identified cost estimation approaches.Identify the cost estimation approach that was selected for your project. Explain why your team ultimately chose this methodology.Step 5: Review Review the paper to ensure all required elements are present and correct. Step 6: Submit the plan in the Assignment Folder. Have one member of the team

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