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  • cost estimate

    An estimate of the cost of an object, commodity, weapon system, or service resulting from an estimating procedure or algorithm. A cost estimate has “context,” that is, whether it is the cost to develop and/or procure, and/or to support and/or maintain the item of service and whether it is an incremental, total or Life Cycle Cost, or some other cost perspective. A cost estimate may constitute a single value or a range of values.

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