The purpose of the estimate is two-fold. First, it allows the contractor to enter into a contractual agreement with confidence. Second, it provides an organized, detailed plan to execute the project ...

A well-researched and planned cost estimation and budget is necessary for the successful completion of any project. Project managers need to thoroughly scope the project in order to secure sufficient ...

Value stream management involves people in the organization to examine workflows and other processes to ensure they are deriving the maximum value from their efforts while eliminating waste — of ...

Project work estimation has three components: the initial first cut, commonly known as a SWAG (scientific wild-ass guess), tracking the estimate against the actual numbers, and using the schedule to ...

As the oil and gas industry explores new regions, the role of cost estimating to support the projects becomes more challenging. Cost estimating for the most part is a specialized field whose end ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Amy is an ACA and the CEO and founder of ...

You are a project manager of a critical software project. The senior management is on your back to deliver, your budget is running out, the pressure from business is building up, and the CIO is ...