This Glossary reflects those Estimating Terms that are either in common usage or have been defined for the purposes of this series of guides. Not all the terms are used in every volume, but where they do occur, their meaning is intended to be consistent.

3-Point Estimate A 3-Point Estimate is an expression of uncertainty around an Estimate Value. It usually expresses Optimistic, Most Likely and Pessimistic Values.

Accuracy Accuracy is an expression of how close a measurement, statistic or estimate is to the true value, or to a defined standard.

Actual Cost (AC) See Earned Value Management Abbreviations and Terminology

ACWP (Actual Cost of Work Performed) or Actual Cost (AC) See Earned Value Management ...

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