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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 ...
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It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1] [2] [3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical Engineering magazine in 1947 as a method for estimating the total installation cost for plants and equipment.
Installation (or setup) of a computer program (including device drivers and plugins), is the act of making the program ready for execution. Installation refers to the particular configuration of software or hardware with a view to making it usable with the computer. A soft or digital copy of the piece of software (program) is needed to install it.
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