Estimate. A quantitative assessment of the likely amount or outcome. Usually applied to project costs, resources,effort, and durations and is usually preceded by a modifier (i.e., preliminary, conceptual, feasibility, order-ofmagnitude,definitive). It should always include some indication of accuracy (e.g., ñ x percent). See also budgetand cost.
This definition was found in the PMBOK V5
Go back to the Glossary or to the Mapping