What is the estimated accuracy of the Inception stage in project estimation?

The estimated accuracy of the Inception stage in project estimation is commonly recognized to be around 15 percent. This stage typically involves gathering initial requirements, defining the project's scope, and creating a high-level plan. The focus during this phase is on understanding the broad objectives and constraints rather than producing detailed specifications. As such, the estimates made at this stage are often less precise, which is reflected in the 15 percent accuracy range. This level of accuracy allows stakeholders to have a general idea of the project feasibility and resource allocation without locking into precise numbers that will be refined in subsequent stages of the project lifecycle.