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TOPIC: Basis of estimates vs Cost Estimates

Basis of estimates vs Cost Estimates 1 year 7 months ago #17510

  • Jessica Aweya
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Hello,

What is the difference between the basis of estimates, cost estimates and duration of estimates?

Thanks

Basis of estimates vs Cost Estimates 1 year 7 months ago #17579

  • Cynthia Lim Louis, PMP
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Basis of estimates = how the cost is derived.
Cost estimates = the estimated cost that are included to complete an activity.
Duration estimates = the estimated time period required to complete an activity
The following user(s) said Thank You: Joann Sosa, Divya Singh
Moderators: Yolanda MabutasMary Kathrine PaduaCynthia Lim Louis, PMPTracy Shagnea, PMPGabriella Dellino, PMPPatrick Floris PhD PMPJoe PangJohn Paul BugarinAmy MartinezEmily Rivera, PMPLisa Sweeney PMPHarry ElstonMani SelvanDenver MartinEric Wanyutu Kahiga, PMPSarah FucciThiago França, PMP®Felix Kamanga, PMPChan RampersaudElena MekhanoshinaKyle Kilbride, PMP

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