You are a project manager in the early phase of estimating the cost of the project. You use the analogous method of estimating and have come up with a Rough Order of Magnitude. While presenting it to your sponsor and stakeholders, one of the stakeholders asks if you have also done life cycle costing of the project .What is your BEST response as a credible project manager?

A)Project Cost estimating is primarily concerned with cost of the resources needed to complete the project and needn't consider any other costs

B)Since it is the initial stage of the project cost details required for Life Cycle costing of the project are not available and hence it is not relevant

C)Life cycle costing provides the lowest long-term cost of ownership and should be used as a management decision tool, in case of alternatives

D)Life cycle costing should be done by the project sponsor as it impacts long term business decisions