![]() Project estimating is a vital aspect of project management because it helps determine the total budget for the project and whether or not it’s feasible companywide. Generally, it’s used for estimating a project budget that doesn’t have a lot of detail. It's usually performed during the selection and approval stage of a project. ![]() What is the rough order of magnitude?Ī rough order of magnitude estimate is a general estimate of a project's level of effort and cost. Plus, keep reading to discover examples and how Wrike could be used to assist in creating a template for your own rough order of magnitude. In this article, you’ll learn more about ROM estimates and how they are used in project management. ![]() ROM estimates take place early in a project life cycle and guide strategy and planning choices. A rough order of magnitude estimate, also known as ROM, is an estimation of a project’s level of effort and cost to complete. ![]()
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