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Estimation and Costing in Project Management
The document discusses estimation and costing in project management, defining it as the forecasting of expenses needed to complete a project. It highlights the importance of accurate estimation for budget realism, stakeholder confidence, and project success, while also addressing challenges like unforeseen variables and human errors. Best practices include using historical data, breaking down projects, engaging experts, and leveraging technology, with PlantFCE offering tools to enhance accuracy and decision-making.
Estimation and Costing in Project Management
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