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Rough Order of Magnitude Estimator SEC PMO, in partnership with RobbinsGioia 2006Agenda Introduction & Purpose Data Flow Project Attributes ROM Cost Estimate What it looks like Calculating a ROM Cost
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How to fill out rough order of magnitude
How to fill out rough order of magnitude:
01
Begin by identifying the project or task for which you need a rough order of magnitude estimate. This can be anything from a construction project to a software development task.
02
Break down the project or task into its key components or deliverables. For example, if it's a construction project, identify the number of rooms, square footage, and any special features required.
03
Assess the complexity and level of effort required for each component or deliverable. This can be done by considering factors such as the materials needed, the skill level of the workforce, and any potential challenges or risks.
04
Determine the approximate time and cost for each component or deliverable. This can be based on historical data, industry averages, expert opinions, or your own experience.
05
Summarize the estimated time and cost for each component or deliverable to arrive at an overall rough order of magnitude estimate for the entire project or task. This estimate should provide a high-level approximation that helps stakeholders understand the potential scale and scope of the work involved.
Who needs rough order of magnitude:
01
Project managers: They can use rough order of magnitude estimates to assess the feasibility and viability of a project, as well as to determine initial budgets and resource allocations.
02
Clients or customers: They may want a rough idea of the cost and timeline before committing to a project or task.
03
Stakeholders: People involved in the decision-making process, such as executives or investors, may require rough order of magnitude estimates to evaluate the potential return on investment and make informed decisions.
04
Consultants or contractors: These professionals often need rough order of magnitude estimates to provide initial proposals or quotes to clients.
05
Estimators: People responsible for estimating costs or timelines may rely on rough order of magnitude estimates as a starting point for their more detailed calculations.
Overall, rough order of magnitude estimates serve as a valuable tool for various individuals and organizations involved in planning, budgeting, and decision-making processes.
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What is rough order of magnitude?
Rough order of magnitude is an estimate of costs or time needed for a project, typically given at the beginning when there is limited information available.
Who is required to file rough order of magnitude?
Project managers or individuals responsible for budgeting and planning projects are required to file rough order of magnitude estimates.
How to fill out rough order of magnitude?
To fill out a rough order of magnitude, gather as much relevant information as possible, estimate costs or time based on available data, and document assumptions made.
What is the purpose of rough order of magnitude?
The purpose of rough order of magnitude is to provide a high-level estimate of costs or time needed for a project, to help with initial planning and budgeting.
What information must be reported on rough order of magnitude?
Information such as estimated costs, time frame, assumptions made, and risks involved must be reported on rough order of magnitude.
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