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A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
For example, consider a bridge with a construction budget of $100 million where the actual cost was $150 million. This scenario could be truthfully represented by the following statement The cost overruns constituted 33% of the total expense. The budget for the bridge increased to 150%. The cost overruns exceeded the original budget by 50%.
[9] [10] [a] According to several independent analyses, the law is projected to reduce 2030 U.S. greenhouse gas emissions to 40% below 2005 levels. [11] [12] The Act is not generally believed to have reduced inflation in 2022 and 2023, [13] [14] though some economists predict it will bring down inflation in the medium-to-long term. [15] [16]
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