Preliminary Estimation
Preliminary Estimation provides an initial cost estimate based on early project concepts and designs. This type of estimation helps stakeholders gauge the feasibility of a project, establish budget expectations, and make informed decisions before detailed planning begins. It uses broad assumptions and historical data to offer a rough estimate, which is refined as more information becomes available.
- Early Budgeting
- Conceptual Basis
- Feasibility Assessment
- Refinement Opportunity