Should-cost estimate

Should-cost estimate,

Definition of Should-cost estimate:

  1. Approximation of a contract-price, developed by the customers accounting, engineering, procurement, and other costing staff. The staff conducts a thorough, in-depth review of the contractors plan to identify and eliminate inefficiencies and diseconomies, and quantifies their effect on the total cost of the project. The resulting cost figure is the should-cost estimate.

Meaning of Should-cost estimate & Should-cost estimate Definition