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estimated range
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.
The U.S. Government Accountability Office (GAO) defines a cost estimate as "the summation of individual cost elements, using established methods and valid data, to estimate the future costs of a program, based on what is known today".
The American Association of Cost Engineering (AACEI) defines a cost estimate as the prediction of the probable costs of a project or effort, for a given and documented scope, a defined location, and point of time in the future (February 2021).
Potential cost overruns can be avoided with a credible, reliable, and accurate cost estimate.
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The U.S. Government Accountability Office (GAO) defines a cost estimate as "the summation of individual cost elements, using established methods and valid data, to estimate the future costs of a program, based on what is known today".
The American Association of Cost Engineering (AACEI) defines a cost estimate as the prediction of the probable costs of a project or effort, for a given and documented scope, a defined location, and point of time in the future (February 2021).
Potential cost overruns can be avoided with a credible, reliable, and accurate cost estimate.
View More On Wikipedia.org