How to Estimate Project Costs: A Method for Cost Estimation

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In this video, you'll learn about project cost estimation and the techniques used to estimate project costs. These techniques include order of magnitude estimating, reference class forecasting, parametric forecasting, asking for bids, using catalogs and pricing tables, and creating a sample or pilot. Additionally, you'll learn about the importance of using a red team and adding contingency to your estimates, and how to create a cash flow and business case for the project."