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	<title>PMServicesNW &#187; project cost estimtes</title>
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		<title>Cost Estimate Accuracy</title>
		<link>http://www.pmservicesnw.com/2010/08/cost-estimate-accuracy/</link>
		<comments>http://www.pmservicesnw.com/2010/08/cost-estimate-accuracy/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 22:38:24 +0000</pubDate>
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				<category><![CDATA[Cost]]></category>
		<category><![CDATA[Initiation]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Cost Estimate Accuracy]]></category>
		<category><![CDATA[project cost estimtes]]></category>

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		<description><![CDATA[By: Ray Myers, Jr., PMP The accuracy of project cost estimates varies depending on position in the project life cycle. Rough Order of Magnitude (ROM) Very early in the project ROM estimates are used for selection decisions Accuracy is usually plus/minus 50%, but could range from -25% to +75% Budgetary Early in the project Budgetary estimates are used for initial budget planning Accuracy is typically -10% to +25% Definitive Near start of the project This is a refined estimate with sufficient detailed for purchases and project control Accuracy is usually-5% to +10%   About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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