A preliminary, non-binding cost estimate or indicative price provided during the early stages of an opportunity, based on limited information and broad assumptions. A ROM is used for budgeting, planning, and business case development rather than as a firm quotation or contractual offer. Also known as a Budgetary Offer in some organisations.
Rough Order of Magnitude (ROM)
A preliminary, non-binding cost estimate based on limited information, used for budgeting and planning rather than as a firm quote.
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BD, capture and proposal alignment is something most organizations believe they already have, until a deadline exposes where it breaks. At WPS, a Health Solutions Company, the three functions were moving in parallel but not in sync, and the cost was showing up long before anyone started writing.
Casual drinks with the people who win federal business. Alongside AFCEA LA Space Industry Days.
Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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