what is important of estimateion
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The purpose of cost estimation is to predict the quantity, cost, and price of the resources required to complete a job within the project scope. Cost estimates are used to bid on new business from prospective clients and to inform your job and budget planning process.
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In all organizations, before starting actual production or filling up the tenders, estimation is done. Therefore, accurate estimating is necessary to compete in the market and to be sure whether manufacture of a particular product will be profitable or not.
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