Working Estimates
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Description top
Estimates of the costs involved (effort, purchases, expenses) in a given project, produced and maintained during the Process Step Develop Solution. These estimates are important for several reasons:
- They are used in pricing the Bid (Price Solution)
- They are used in developing the draft PID and Project Plan (the Provisional Project Materials)
- They one of the foundations of a Project’s Business Case.
Since the Project’s initial Budget is based on these estimates, they should be used for reference when planning the Phases or Stages of the Project (Generate Plan Detail), should the Bid be successful.
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