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The Combat Estimate, also known as the Seven Questions is a sequence of questions used by military commanders, usually in contact with the enemy, to plan their response, such as a platoon attack. [ 1 ] [ 2 ] It provides a means for formulating a plan that meets the exigencies of battle, even in very difficult circumstances.
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
They are developed by an estimator during the pre-construction phase. This process includes breaking the project down into smaller and more manageable units that are easier to measure or estimate. The level of detail required for measurement may vary. [1] These measurements are used to format a bid on the scope of construction.
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
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It has since been adapted across many industries to estimate many kinds of tasks, ranging from statistical data collection results to sales and marketing forecasts. According to the Project Management Institute , Wideband Delphi is an "estimating method in which subject matter experts go through multiple rounds of producing estimates ...
These values are used to calculate an E value for the estimate and a standard deviation (SD) as L-estimators, where: E = (a + 4m + b) / 6 SD = (b − a) / 6. E is a weighted average which takes into account both the most optimistic and most pessimistic estimates provided. SD measures the variability or uncertainty in the estimate.