Review the lessons learned from similar projects.

A very good question, I would like to have the answer in real life :). I think C, the question is about costs, how should the lesson learned help giving a price?

One method to enhance budget estimating is to review budget-related lessons learned from similar projects

Ensure the client representative is involved in the estimation: In agile projects, it's essential to involve the client or customer representative in the estimation process. They can provide valuable input and insights into their priorities, requirements, and expectations, which can help make the estimation more accurate. Agile values customer collaboration, so their involvement is crucial.Option A) because it aligns with the agile principles of customer collaboration and responding to change. Therefore, Option A is the most important consideration in this context

D review lesson learned

C. Review the completion costs of similar projects. To provide a cost estimation for the business case in an agile project, it's helpful to review the completion costs of similar projects or reference historical data from similar agile projects. This can provide valuable insights into the expected costs based on past experiences. While involving the client representative, including contingency, and reviewing lessons learned are important aspects of project planning, reviewing completion costs from similar projects is the most direct way to estimate costs for the business case.

Maybe I am overthinking this, but I believe the correct answer is A. It is my understanding that Agile favours bottom-up estimating ahead of analogous. Additionally, you cannot estimate costs before understanding the scope of the project, the customer representative will be able to provide an understanding of the features that need to be developed or prioritized, based on this information you can then go ahead and estimate costs.

D. Review the lessons learned which includes the cost estimation.

C relies on empiricism to (help to) solve the problem of cost estimation in a agile project

D. Review the lessons learned from similar projects.

Collect and document the lessons learned and feedback from the sources you identified. You can use surveys, interviews, focus groups, workshops, or questionnaires to ask specific and relevant questions that can help you identify the root causes, impacts, and solutions of your cost problems. Examples of questions you may ask include: what were the main sources of cost overruns and variances in your project? How did you measure and report your cost performance and progress? How did you handle and mitigate the cost issues and changes? What were the best practices and success factors for cost control in your project? What were the challenges and risks for cost control in your project? And what would you do differently or improve for cost control in your future projects?

Ans: C. What is the guarantee that lessons learnt will have all cost details of a project. So C is better suited than D. Reviewing completion costs of other projects may be more relevant to determine high level estimates.

D. Refer LLR

C. Review the completion costs of similar projects

Lessons learnt will contain information such as the cost of the previous project and areas they could have been able to cut cost. Looking at only the cost of previous project will not say anything on areas cost could have been reduced but the lessons learnt will point that out.

C should be answer

In an agile framework, cost estimation can be challenging due to the iterative and adaptive nature of the project. One effective approach to estimating costs is to review the completion costs of similar projects that have been successfully executed. This can provide the project manager with a baseline for estimating the new project's costs, while considering any unique factors that may affect the project's budget. Options A, B, and D do not specifically address the cost estimation process for building the business case, although they may be helpful in other aspects of project management.