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The NRX Blog

The High Stakes and Critical Impact of Inaccurate Cost Estimation

The High Stakes and Critical Impact of Inaccurate Cost Estimation

Cost estimation plays a pivotal role in determining the success of any industrial project. In each step of the process, accurately forecasting necessary budgets ensures that projects remain on track and on schedule. However, many organizations still rely on historical benchmarks, overlooking the valuable data trapped in technical drawings and schematics.

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