Definitive Estimate Glossary Definition

Term Definitive Estimate
Definition

A Definitive Estimate is a refined cost estimate prepared when project scope and planning information are detailed enough to support a narrower expected range.

Context & Usage

It is usually more reliable than early rough-order estimates but still depends on assumptions and risk exposure.

Related concepts include Project Scope.

Related concepts include Budget, Cost Baseline, Planned Value, Earned Value, Actual Cost and Cost Variance.

Categories Knowledge Management and Content Governance