should-cost estimate |
|
Definition
Approximation of a contract-price, developed by the customer's accounting, engineering, procurement, and other costing staff. The staff conducts a thorough, in-depth review of the contractor's 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.
email to a friend
print this definition
cite this definition
link to this page
should-cost estimate is in the Accounting & Auditing and Agreements & Contracts subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/should-cost-estimate.html