A construction company faces several decision-making situations during a typical project. Classify each of the following cases as decision making under certainty, decision making under uncertainty, or decision making under risk, explaining your reason for each classification.
(a) Budgeting costs for a new type of project for which the company has no historical data
(b) Budgeting costs for a project when the company has done many similar projects before
(c) Budgeting costs for work to be done by a subcontractor under a firm fixed-price contrac