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8 items found

Phase (Hybrid) Estimating

Wiki

This hybrid estimation technique of a project’s costs and duration begins with a top-down approach and then progressively improves the estimates for the project phases as they are implemented. Some projects by their nature cannot be thoroughly defined because of the uncertainty of product designs and configurations due to market volatility of supply and demand.

Project Definition Risk

Wiki

“Project Definition Risk” is the risk that the project is not fully and completely defined, understood and estimated prior to initiation.

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"Impartial observers from other planets would consider ours an utterly bizarre enclave if it were populated by birds, defined as flying animals, that nevertheless rarely or never actually flew. They would also be perplexed if they encountered in our seas, lakes, rivers and ponds, creatures defined as swimmers that never did any swimming. But they would be even more surprised to encounter a species defined as a thinking animal if, in fact, the creature very rarely indulged in actual thinking."

- Steve Allen