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Independent cost estimate is

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Definition Edit

An independent cost estimate is

another estimate based on the same technical information that is used to validate and cross-check the cost estimate, but is prepared by a person or organization that has no stake in the approval of the program. A risk and uncertainty analysis recognizes the potential for error and attempts to quantify it by identifying the effects of changing key cost drivers (e.g., costs associated with personnel or software development).[1]

References Edit

  1. DoD Business Systems Modernization: Air Force Business System Schedule and Cost Estimates, at 3 n.10.

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