Cost estimation : methods and tools

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Cost estimation : methods and tools

Gregory K. Mislick, Daniel A. Nussbaum, Karen R. Mislick

(Wiley series in operations research and management science)

Wiley, [2026] , , c2026

2nd edition

  • : hardback

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Content Type: text (rdacontent), Media Type: unmediated (rdamedia), Carrier Type: volume (rdacarrier)

Summary: "Cost estimation is the process of approximating the probable cost of something, based on information available at the time, data which is used to inform an investment decision. Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project, and the results of modelling are typically necessary to obtain approval to proceed with a project of some description. Simple projects require relatively straightforward analysis, but complex projects, where risk may be high and outcomes uncertain, require detailed, sophisticated and extensive analysis. Projects of this nature are often sponsored by governments, and as such have extensive and well-developed procedures to provide guidance on cost model development"--Provided by publisher

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