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Running head: EstimatesEstimatesInstitutional AffiliationNameDateEstimates. 2EstimatesOrganizations need funds to do projects and even in the daily running, they therefore need toprepare budgets and come up with estimations of the costs they will run. To ensure that theestimates they do are good, the organization has to make use of a method that is well known anddocumented, this will make them avoid any major mistakes. They should also ensure that theyuse several estimation techniques or methods. The results ca then be cross checked so as toensure that they are on the right track.So that they can ensure that they are making good estimates, the company can use historical datato make estimates. Any similar estimates that were made in the past will come in handy whenmaking these new ones because it will be a matter of reference with the old. The old ones willnow not be es ...


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