Independent estimates

Below are the description of all the uses of the working document “Independent estimates”:

“Independent Estimates” is a tool/technique for the process “Conduct Procurements “.
For many procurement items, the procuring organization may elect to either prepare its own independent estimate, or have an estimate of costs prepared by an outside professional estimator, to serve as a benchmark on proposed responses. Significant differences in cost estimates can be an indication that the procurement statement of work was deficient, ambiguous, and/or that the prospective sellers either misunderstood or failed to respond fully to the procurement statement of work.

This definition was found in the PMBOK V5

Go back to the Glossary or to the Mapping