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Project Cost Estimation
What Is Project Cost Estimation? Project cost estimation is the process that takes direct costs, indirect costs and other types of project costs into account and calculates a budget that meets the financial commitment necessary for a successful project. To do this, project managers and project estimators use a cost breakdown structure to determine all the costs in a project. Project cost estimation is critical for any type of project, from building a bridge to developing that new killer app. Everything costs money, so the clearer you are on the amount required, the more likely you and your project team will achieve your objective. Project cost estimating is a critical step during the project planning phase because it helps project managers create a project budget that covers the project costs that are needed to achieve the goals and objectives of the project set forth by executives and project stakeholders.
Farnham is a market town in Surrey, England, within the borough of Waverley.[2] The town is 36 miles (58 km) southwest of London in the extreme west of Surrey, adjacent to the border with Hampshire. By road, Guildford is 11 miles (17 km) to the east and Winchester a further 28 miles (45 km) along the same axis as London. Farnham is the largest town in Waverley; it is one of the five largest conurbations in Surrey. It is of historic interest, with many old buildings, including a number of Georgian houses. Farnham Castle overlooks the town. A short distance south-east of the town centre are the ruins of Waverley Abbey, Moor Park House, Northbrook Park and Mother Ludlam's Cave. Farnham is twinned with Andernach in Germany. It is drained by the River Wey (North Branch) which is navigable only by canoe at this point.
