3. Prepare a simple budget showing an order of magnitude estimate, a budget estimate, and a definitive estimate. What did you have to do to make each successive budget closer to the final working budget?
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Step 1
Order of Magnitude Estimate: This is a rough estimate, usually based on historical data or expert judgment. It is typically used in the early stages of a project when detailed information is not yet available. The accuracy of this estimate can range from -25% to Show more…
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