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Federal Procurement

Update the Estimate to Reflect Actual Costs

Search Update the Estimate to Reflect Actual Costs government contracts, grants, and federal opportunities.

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Update the Estimate to Reflect Actual Costs

Glossary

A glossary tracked by Bureauify. See sources and related records below.

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Step 12

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Why does Step 12: Update the Estimate to Reflect Actual Costs matter?

Continuously update the cost estimate as the program progresses by incorporating actual cost data, schedule changes, and technical refinements. An estimate is a living document that should be refreshed at each major milestone, significant program change, or annually at minimum. Comparing estimates to actuals feeds lessons learned back into future estimating.

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Route: Orientation path

  1. 1.Discover — you are here
  2. 2.Decide — track in workspace
  3. 3.Act — track in workspace
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Key Activities

  • 1.Compare estimated costs to actual costs at each reporting period
  • 2.Identify and explain variances between estimates and actuals
  • 3.Update assumptions and ground rules to reflect current program status
  • 4.Recalibrate CERs and learning curves using actual production data
  • 5.Generate Estimates at Completion (EACs) using multiple EAC methods

Deliverables

Updated cost estimateVariance analysis reportEstimate at Completion (EAC) reconciliationLessons learned for future estimates

Common Pitfalls

  • !Treating the original estimate as final and not updating it
  • !Not incorporating lessons learned into estimating databases
  • !Ignoring early warning signs of cost growth in variance analysis

Adjacent Steps

Document the EstimateStep 10Present Estimate for Management ApprovalStep 11

All Other Steps

Define the Estimate's PurposeStep 1Develop the Estimating PlanStep 2Define Program CharacteristicsStep 3Determine the Estimating Structure (WBS)Step 4Identify Ground Rules and AssumptionsStep 5Obtain DataStep 6Develop the Point EstimateStep 7Conduct Sensitivity AnalysisStep 8Conduct Risk and Uncertainty AnalysisStep 9

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How often is this data updated?
Bureauify aggregates data from multiple federal sources — SAM.gov, USAspending, FPDS, and Grants.gov — and updates hourly. Active solicitations, awards, grants, and other federal records are refreshed throughout the day.
Cite this page
Bureauify. (2026). Update the Estimate to Reflect Actual Costs — Federal Contract Intelligence. Bureauify Federal Intelligence. Retrieved , from https://bureauify.com/glossary/update-estimate

Data Methodology

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Data is sourced from official federal systems and refreshed regularly. Verify critical details on the originating agency website before making business decisions.

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