A project cost estimate addresses the following issues: financial planning of investments, linking capital costs in the project budget to whole-of-life costs for service delivery; how to accommodate risk and uncertainty in project budgeting and delivery; and project governance and sign-off requirements surrounding project budgets.
Preparing a Project Cost Estimate for a Business Case
This document helps develop robust cost and budget estimates in support of sound investment decisions. A detailed project cost estimate is critical to a business case because it helps identify the optimal financial outcome over the investment's lifecycle.
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