A Guide to Developing a ROM Estimate

Developing a Rough Order of Magnitude (ROM) estimate will involve both subject matter experts and project managers. The “Rough Order of Magnitude” estimate should have at least a (plus or minus) 50% accuracy. The variance may not always be in this range but it should be the target for a useful “ballpark” estimate at a Read more about A Guide to Developing a ROM Estimate[…]

What is Rough Order of Magnitude (ROM)

We never know the final project cost until the project is complete. What we can do however is create an estimate. An estimate can take many forms but you cannot rely on guessing or adding a certain percentage buffer (say 10%) as a fall back plan. Regardless of scope or schedule, funding is critical in Read more about What is Rough Order of Magnitude (ROM)[…]