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estimate of cost
- estimate of cost
- estimate of cost
Prediction or forecast of costs that will occur in the future, but are not yet
committed; a cost type. Estimates are described or qualified based on the
supporting design information available at the time the estimate is prepared. In
ascending order of precision and certainty, the following descriptions are used
for estimates of the final project cost, the names being a reflection of the
stage in which they are prepared:
1. Order of Magnitude
2. Feasibility
3. Capital Appropriation
4. Design Review
5. Pre-tender
6. Post-tender
Source: Max Wideman.com
Copyright: Wideman Comparative Glossary
of Common Project Management Terms v3.1 is copyright by R. Max Wideman, March
2002.
- Management (management) >> * - management >> Projectmanagement (project management) >> Geld (finances)
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