Question 1Discuss the techniques that companies are using today for estimating time and cost in their projects.Your essay should be at least 500 words in length and include an introduction, a body, and a conclusion. You are required to use at least your textbook as source material for your response. You must also use one outside source. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.Question 2Costs such as salaries and equipment rental are a more cut and dry expense to estimate than the cost of effort. Describe how to estimate effort. Discuss why it is so important to estimate projects correctly, and why overestimating projects can be just as detrimental as underestimating them.