Estimate range

 Can anyone suggest the right estimate values?

 

Rough Order of Estimate:

Conceptual:

Preliminary:

Definitive:

 

I am seeing different values in different resources.

Thanks

During Initiation Stage cost budget represented as ROE which is Conceptual level which refine during planning ( become preliminary) and execution and M&C (become definitive budget).

 

 

 

Thanks..

I am looking for the range values...!!

 

cnppmp's picture

Rough Order of estimate: -50% to +50 %

Budget estimate: -15% to +25 %

Definitive Estimate: -5% to +10%

Generally these are the etsimate terms used from PMP perspective.

 

Regards

CN Patil

 some of the mock test will give u different answer. I encountered this before and the answer given was -50 to +100 for ROM. But i suggest to follow the figure mentioned by cnppmp above.

cnppmp's picture

I have provided the ranges as per the PMBOK, so you need to follow PMBOK, else you would answer wrongly...My advise for such things you need to follow the PMBOK blindly.


Regards


CN Patil

based on various situations range of estimates can be used as below:

Rough Order of Estimate: + -50% OR -25 to 75%

Conceptual:-30 to 50%

Preliminary:-15 to 50%

Budgetary: -  -10 to 25%

Definitive:+ -5% OR -5 to 10%

Final Estimate = 0