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A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
Argus retinal prosthesis, also known as a bionic eye, is an electronic retinal implant manufactured by the American company Second Sight Medical Products. It is used as a visual prosthesis to improve the vision of people with severe cases of retinitis pigmentosa. The Argus II version of the system was approved for marketing in the European ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] ". Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements."
Distance measuring equipment. In aviation, distance measuring equipment (DME) is a radio navigation technology that measures the slant range (distance) between an aircraft and a ground station by timing the propagation delay of radio signals in the frequency band between 960 and 1215 megahertz (MHz). Line-of-visibility between the aircraft and ...
The Lang Factor is an estimated ratio of the total cost of creating a process within a plant, to the cost of all major technical components. It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1][2][3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical Engineering magazine ...
AACE International (Association for the Advancement of Cost Engineering) was founded in 1956 by 59 cost estimators and cost engineers during the organizational meeting of the American Association of Cost Engineering at the University of New Hampshire in Durham, New Hampshire. AACE International Headquarters is located in Morgantown, West ...
In about 1970 HP co-founder Bill Hewlett challenged his co-workers to create a "shirt-pocket sized HP-9100".At the time, slide rules were the only practical portable devices for performing trigonometric and exponential functions, as existing pocket calculators could only perform addition, subtraction, multiplication, and division.
Pascal's calculator (also known as the arithmetic machine or Pascaline) is a mechanical calculator invented by Blaise Pascal in 1642. Pascal was led to develop a calculator by the laborious arithmetical calculations required by his father's work as the supervisor of taxes in Rouen. [2] He designed the machine to add and subtract two numbers ...