Project Estimating plays a vital role in Project management.
Developed within the framework of A Guide to.
Accurate estimation and refinement of the estimates leads to better and earlier decision making, thus maximizing value.
Organizations and Project managers should use these initial estimates to baseline the Project schedule and cost, then refine these estimates as the Project develops.
Typically completed in the initial planning stages, accurate Project estimation can be a difficult task.
Project Estimating plays a vital role in Project management