Definition, Meaning & Synonyms

preliminary-estimate

noun

prɪˈlɪmɪnɛri ˈɛstɪmət

Definition

An initial assessment or approximation of the value or outcome of a project or process, usually made before detailed analysis or study.

Examples

Before the project can begin, we need to prepare a preliminary estimate of the costs involved.
The preliminary estimate suggested the renovation would cost between $50,000 and $60,000.
Our team produced a preliminary estimate to guide the upcoming discussions with stakeholders.

Meaning

A preliminary estimate serves as a starting point for budgeting and planning, providing a rough idea of potential costs or results based on available information.