Definition of Estimation
Estimation
es·ti·ma·tion
Definition/Meaning
(noun)
the action of determining or calculating the quantity, extent, or value of something to an approximation or rough amount, or the amount that is thus determined/estimated;
e.g. They are working on the estimation of the budget for the project. Our initial estimation was too low, and we ended up taking much more time.
(noun)
a judgement or opinion formed of someone/something's nature or of the worth of something/someone;
e.g. My estimation of him is that he will be a very loyal teammate. In her estimation, this is the least feasible option.
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