The process of forecasting or approximating the time and cost of completing project deliverables is called

The process of forecasting or approximating the time and cost of completing project deliverables is called cost estimation or project estimation. This process involves evaluating the resources required for project completion, assessing the potential costs associated with those resources, and predicting the time required to accomplish deliverables.

Cost estimation typically uses various techniques, including expert judgment, historical data analysis, and quantitative methods such as analogous estimating, parametric estimating, and three-point estimation. It is an essential component of project management, enabling project managers to allocate budgets effectively and schedule tasks to meet deadlines. Accurate project estimation is crucial for the successful completion of a project, influencing the project's overall efficiency and expense management.