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Estimate accuracy

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1. Rough Order of Magnitude (ROM) Estimate: made during project initiating, -25% –> +75% (depend on how much is known about the project)

2. Budget Estimate: made during project planning, -10% –> +25%.

3. Definitive Estimate: as the project progress, the estimate becomes more refined. Can be 2 cases:

– Case 1: -10% –> +10%.

– Case 2: -5% –> +10%.

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Written by hoantv

September 9, 2013 at 3:59 pm

Posted in 07. Prj Cost Mgt

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