ROM meaning in oil and gas

Rough Order of Magnitude

Planning estimate during Work Order development. MORE - When a project is started and Requirements are not specified in great detail, the exact project Budget can not be calculated without mistakes (due to the well-known Cone of Uncertainty). Concrete numbers in this stage will lead to an ineffective situation in which we may experience loss. To avoid the possibility of such an ineffective situation, we provide a Rough Order-of-Magnitude (ROM) Estimate of costs and time when Requirements are not specified in the early stages of the project. The ROM Estimate is based on Vision document that includes a list of Feature's. to read more visit: