Within the realm of undertaking administration, the time period “Greatest and Flanagan” holds important significance. It refers to a widely known method for estimating undertaking prices, developed by engineers Edward Greatest and Robert Flanagan within the Nineteen Seventies.
The Greatest and Flanagan technique entails gathering information on related tasks, analyzing their prices, and making use of statistical strategies to forecast the prices of a brand new undertaking with related traits. This technique is especially helpful when historic information is accessible and the undertaking scope is well-defined.
