The cost estimate should clearly define the purpose of the project, what it will accomplish, what assumptions are made, how long the estimate is valid, and how much the project will cost.

The Navy’s cost estimate for the lead ship in its new ballistic-missile submarine program grew by $637 million over the last year, according to the service’s Fiscal Year 2022 budget submission.

Table 5 provides unit costs of construction components for a 5,000-hp compressor station in different regions with cost estimation models. Unit total costs of compressor stations in different ...