Hello everyone, how are you feeling today?
It is funny because I just taught some young students about estimation, and I find it very interesting. Estimate is one thing, but a bad estimate is actually normal because you are not meant to be accurate with your estimate but be near accurate. I guess bad estimate is worse off, maybe completely out of the way.
Estimate means to form an approximate judgment or opinion regarding the worth, amount, size, weight, etc., of; calculate approximately: to estimate the cost of a college education. Synonyms: appraise, evaluate, value, assess, gauge, reckon, count, compute. Link
As you can see from the definition above, estimation is a rough work on a subject. Estimation is usually different from actual except they coincide, which is rare. An easier way to say it is that it is a guess work. This is because you don't have all the fact or details, you just estimate based on what you see or feel like but the actual is done based on facts and data collected.
Estimates and proposals are two ways to give customers an idea of how much their project or service might cost. They're used by businesses that can't provide standard prices for their goods and services because the time and materials for each project vary depending on the client's needs. Link
I think calling out bad estimate will discourage the use of estimate because people will not want to make a mistake or like the theme says, to give a bad estimate. But I love to give estimate first before getting the facts, it helps to give get a good picture of something before getting the actual thing.
I also think the more you estimate, the better you become. So keep at it!
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