Question
Download Solution PDFWhich of the following is NOT an important outcome of estimation?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is option 3.
Estimation does not predict the quality of the material. For quality, total quality management (TQM) is used.
Estimation
Estimation (or estimating) is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable.
Advantages of estimation
- It helps to calculate the total amount of raw materials required to produce the order size.
- It gives information on the approximate budget to complete that order.
- It helps to use the correct material.
- It avoids the wastage of materials.
Last updated on Jun 16, 2025
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