vault backup: 2025-10-09 17:34:01
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@@ -20,7 +20,8 @@ Such methods lack the ability to intelligently express [[uncertainty]].
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### Limitations of Traditional Estimating Methods
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Traditional estimating methods, sometimes referred to as "Detailed Takeoff",
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Traditional estimating methods,
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sometimes referred to as "Detailed Takeoff",
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seek to detail all constituent subcosts,
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including 100% itemized pricing by way of a _material extension_,
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a complete list of all material included in the price.
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@@ -29,8 +30,9 @@ For clarity and contrast to [[risk-oriented-estimating]],
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which does not require itemized pricing,
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I'll refer to these methods as "item-oriented estimating".
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By popular belief, item-oriented estimating is the only "correct" way to estimate,
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however few to no estimators create 100% "Detailed" estimates
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By popular belief,
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item-oriented estimating is the only "correct" way to estimate,
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however few to no estimators create 100% "detailed" estimates
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as the effort would require a significant increase in estimating time
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for little reward in overall **precision**.
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@@ -44,7 +46,8 @@ for little reward in overall **precision**.
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It is popular to dismiss alternate estimate models as potentially inaccurate,
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but this dismissal fails to acknowledge
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the potential for _much greater_ inaccuracy in item-oriented methods.
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the potential for _much greater_ inaccuracy in item-oriented methods:
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While an estimate based on item extension is 100% **precise**,
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in that it computes to single final number,
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the method has no such inherent guarantee of **accuracy**.
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