It is desirable to have a 50 percent chance of meeting time and cost estimates.
Which factors affect quality of cost and time estimates?
The quality of the estimate is known to be one that often depends on the factors such as the planning horizon.
Note that this tend to estimates the current events that are known to be close to 100 percent right but are lowered for more distant events.
Hence, the accuracy of time and cost estimates is one that tends to improve as a person move from the conceptual phase.
Therefore, It is desirable to have a 50 percent chance of meeting time and cost estimates.
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