Conceptually, there are three major types of estimating error–quantity errors, rate errors and errors of omission. Most companies underestimate how much these errors are costing them and fall victim to “winner’s curse.”
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“The Company engaged MRSI to “benchmark” five areas of business…. The exercise produced useful results, but, more interestingly, it identified opportunities in the overall business management of the Company…. We were impressed with the quality of people, their ability to interact with our personnel and the end result.”
-Michael Schnekenburger, President and CEO, NRI Industries Incorporated
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