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Extreme order-of-magnitude estimating

By: Series: Cost Engineer ; 41(2) March 2003, 14-16(3)Publication details: 2003Subject(s): Summary: Gives a definition of order-of-magnitude estimating as a quick method of determining an approximate probable cost of a project without the benefit of detailed scope definition. Describes the obstacles that were encountered and overcome at the deactivisation of process facilities at the US Department of Energy's Oak Ridge Y-12 plant. This model proved there was a less than 10% variance between estimated and actual costs.

Gives a definition of order-of-magnitude estimating as a quick method of determining an approximate probable cost of a project without the benefit of detailed scope definition. Describes the obstacles that were encountered and overcome at the deactivisation of process facilities at the US Department of Energy's Oak Ridge Y-12 plant. This model proved there was a less than 10% variance between estimated and actual costs.