What Does CER Stand For?

CER stands for Cost Estimating Relationship

CER, or Cost Estimating Relationship, is a mathematical model used to estimate project costs based on relevant variables and historical data. It establishes a relationship between cost drivers and final costs, enabling organizations to make informed budgeting decisions and enhance the accuracy of cost projections. By leveraging past project data, CERs facilitate better financial planning and resource allocation, ensuring efficient project management and control.