8. Mistakes to avoid
8.1 Don't overlook planning risks
Estimating is not simply a matter of obtaining the most accurate figure possible: it is also essential to identify the major project risks and quantify them. In most cases, the major risk is schedule slippage. Slippage in the schedule means maintaining resources, and therefore cost variance. As an estimator, it's vital to know your planning assumptions and assess the associated risk.
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