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definition-Estimate

Definition:

An estimate is a numeric judgment about a future, present or Past Level of a Scalar System Attribute.

Alternative Names

Concept Number: *058
English Master: Estimate
Synonyms, Variations & Acronyms: Predict

Detailing

This includes all performance and Cost Attributes.


Illustrations

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Type

Metric
Parameter


Examples

Estimate: or “Estimated:”
This is a Benchmark specification used when there is no Past or Trend or Record, and you need to develop an estimate for a certain period ( for example “ This Year”)

Revenue:
Headline: exceed USD 30 million
Scale: US$ gross revenue in a single financial year.
Past [2003] $? Mill.
Estimate [2004] $? Mill.± 10% <- CFO

Goal [2006, Constraint = Operating Margin < 20%] $30 mill.
<- CEO?


Notes

1. Estimates__ are usually made where direct Measurement is:
• impossible (future), or
• impractical (Past), or
• uneconomic (current Levels).

2. An estimate is usually derived from available information, and Past experience.

3. An estimate can be made for numeric facts from the Past (Benchmarks), even if precise Past data is not available.

4. Estimates are made about any Scalar System Attribute: Cost-Levels, Resource availability, Product-Value Levels, savings and other dimensions of Systems.


Keyed-Icons

  1. “The same icon as Cell. This icon is symbolic of an Value-Decision-Table. In the USA, this icon is the “number” symbol.”

Drawn-Icons

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History-of-Concept

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This Concept entered by Diane O'Brien.

Created by system. Last Modification: Thursday 11 of July, 2019 18:11:59 CEST by Admin (Kai).
(Cached)

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