An Analysis of the Six Most Common Methods of Estimating

摘要

Barron's Dictionary of Business Terms defines cost estimating as, "determining the total costs of labor, materials, capital and professional fees required for a proposed product." I would add that it is "the science" of determining those, costs. It also defines benchmarking as,"(a) standard unit for the basis of comparison; universal unit that is identified with sufficient detail so that other similar classifications can be compared as being above, below, or comparable to the benchmark standard." Both are scientific processes built upon measuring things accurately and consistently.