Cost Estimation is crucial task of any organization, because of estimation company can hit over product cost determination, cost-volume-analysis, cost control, Budgeting, Price determination,  Make or buy decision, bidding etc. There are multiple ways of determine cost of service or commodity.

Visual -Fit Method

Engineering Method

Accounting Method

High-Low Method /Two-Point Method

Least- Square Method/ Regression Method


Later Days I will try to go more detail one by one.