term1 Definition1term2 Definition2term3 Definition3
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5 levels used in the estimation process
C
O
P
B
D
Control estimate
Order of magnitude estimates
Preliminary estimate
Budget estimate
Definitive estimate
Crab
Once decision has been made to carry on with project cost management will concern itself with following matters
L
Cost of resources needed to complete project
Cost of using the projects product
Life cycle costing and value engineering
Drift wood
Info required to enable project management and it's customers to take decisions on acceptability of matters
A
R
Cash Flow v.s tube rate of availability of funds
Analysis of the acceptability of payback rates
return on investment
Risk which could cause cost escalation or even overruns
Sea gull
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