4. Formalizing results
Once you have made your estimate, the result should be presented in :
clearly outlining the assumptions used in the estimate;
identifying the method used and the degree of precision expected;
giving the results.
A sensitivity study can be carried out by changing certain relevant parameters in order to obtain their weight.
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Formalizing results
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Association for Advancement of Cost Engineering
AACE International was founded in 1956 by 59 cost estimators and cost engineers at the organizational meeting of the American Association of Cost Engineering.
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