Types of Estimates

  • Rough Order of Magnitude estimates – This is a kind of rough or ballpark estimate. Accuracy is between –50% to +50% as the requirements details availability will be very less.
  • Budget Estimate – When more details are available and the project is in the planning stage, we will be able to provide this estimate. Accuracy is –10 to +25%
  • Definite Estimate – Accuracy level is almost close to 0 (Eg: -5% to +5%) as the requirements will be almost clear

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