Estimating Cost and Schedule
There are no facts about the future, only estimates.1
It is very difficult to make a vigorous, plausible, job-risking defense of an estimate that is derived by no quantitative method, supported by little data, and certified chiefly by the hunches of the managers.
Dr. Fred P. Brooks, Jr.2
Module 1: The Nature of Estimates
Making a judgment about the future, even with uncertainty
Introduction to Estimates
So, what’s an estimate? We have the dictionary version easy enough, as given via google.com:
Estimate: An approximate ...