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SET Group are a start-up company trying to estimate the direct costs of materials for...

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SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?

A.

Yes, industry benchmarks are always kept up to date to consider real-time market conditions

B.

No, the organisation will not have access to industry benchmarks as they are a new organisation

C.

No, industry benchmarks do not consider specific specifications, quality requirements, or real-time market conditions

D.

Yes, cost predictions do not need to be accurate as they are just an initial guess

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