The estimated cost for the data disposition project is $25 million. The total investment cost for each phase:

Phase 1 - 32.9%

Phase 2 55.6%

Phase 3 11.5%

No	Project	Cost in Millions $	Total
1	Defining your data and data structure	phase 1=1.2	phase 2= 2.3	phase 3 =0	total =3.5
2	Understand how data is used	1.5	.8	.2	2.5
3	Identify data interdependencies	.8	2	.2	3
4	Link data to data holds and retention schedule	.7	1.3	.5	2.5
5	Design approaches to de-identify and dispose of data	2.7	5	.3	8
6	Develop data disposition initiatives and implement them	.5	1.5	1	3
7	Establish a road map to implement initiatives	.825	1	.675	2.5
total phase 1= 8.225	total phase2= 13.9	total phase3= 2.875	Totals all = 25

Q1. Accuracy in cost estimation is important. Discuss your options choosing the accuracy level in estimating the cost before arriving at the final estimates. Which of the cost estimate accuracy options below will your group choose and why?

Rough Order of Magnitude (ROM) Estimate: within the range of -25% to +75%

Preliminary estimate: within the range of -15% to +50%

Budget estimate: within the range of -10% to +25%

Definitive Estimate: within the range of -5% to +10%