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What is a estimation?
an estimation is an educated guess as to the cost of a certain procedure or product.
Can one cost estimation method be used in combination with another method?
Yes. True
What is approximate estimation?
If an estimation, or estimate, is a guess, an approximate estimation is a rougher guess.
Why use estimation?
Estimation is a quick of working out roughly what the answer is
How is rounding related to estimation?
Rounding is a form of estimation.
Difference between pre-feasibility and feasibility?
The most difference is on cost estimation. In PreFS, cost estimation is based on assumptions while cost estimation in FS is normally based on vendors' offers/proposals, at least for expensive price equipment/materials.
What is cost objectives?
Cost objectives determines the cost allocation. It determines the product, service or department that will receive the allocation.
What is a estimation?
an estimation is an educated guess as to the cost of a certain procedure or product.
What is the Cost and cost accounting also give out objectives of cost accounting?
answer
Why cost estimation is important for project management?
Cost estimation is important because each project has the risk of added costs that weren't consider up front throwing the project into a state where you may not have the budget required to continue working on the project. The cost estimation should include the initial assessment plus % available for added costs.
Full form of cocomo?
COCOMO constructive cost estimation model
What is the difference between estimation and costing?
1,estimation is finding the cost before it has been actually manufactured. and costing is finding cost after manufacturing the product including the defect product cost. 2,estimation need high technical skills and knowledge hence its done by engineering department but costing need high accounting skills hence its usually done by Accountants or account departments 3,estimation foresee the probable cost and hence it can be used to decide whether one need to produce a particular product or not. or if its profitable or not costing helps to understand to what extent the estimation holds good also when and where it fails
What is the different between estimation and budget?
estimation is how much you think it would costs and budget is how much you decide it will cost after several estimations. budget is how much you can spend.
What are the objectives of material control in cost accounting?
== ==
What would an estimation of a brake fluid leak cost to fix in a 1995 Bonneville?
where is it leaking at
Can one cost estimation method can be used in combination with another method?
Yes. True
Can one cost estimation method be used in combination with another method?
Yes. True
