Archives of Directives

Estimate Uncertainty

The inherent accuracy of a cost or schedule estimate. Represents a function of the level of project definition that is available, the resources used (skill set and knowledge) and time spent to develop the cost estimate and schedule, and the data (e.g., vendor quotes, catalogue…
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Definition 1

The inherent accuracy of a cost or schedule estimate. Represents a function of the level of project definition that is available, the resources used (skill set and knowledge) and time spent to develop the cost estimate and schedule, and the data (e.g., vendor quotes, catalogue pricing, historical databases, etc.) and methodologies used to develop the cost estimate and schedule.

CategoriesBusiness and Support Services, Safety, Security
Term OPIPM - Office of Project Management Oversight and Assessments
Definition typeDefinition
RelatedSources

Source 1:

DOE G 413.3-7A Chg 2 (LtdChg), Risk Management Guide
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