Cost Estimating Guidelines

Cost estimating guidelines are a set of best practices and methods used to predict the expenses involved in a project accurately. They help ensure estimates are consistent, reliable, and based on solid data, allowing project managers and stakeholders to plan budgets effectively. These guidelines include defining scope clearly, using appropriate estimating techniques, considering uncertainties, and documenting assumptions. By following these standards, organizations can minimize surprises, make informed decisions, and manage resources efficiently throughout the project lifecycle.