Why is cost estimation the basis of many management decisions?

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As it is giving a good indication regarding the rewards / net income / profitability of these decisions.

profitable decisions are important in business

Because now a days cost estimation is the main step for decision making. higher menagement totally depends upon the costing of product for profit making and future policies for the compamy.

Each authority has its own jurisdiction, the one responsible administration that determines the fate of everything in terms of entrances and dangers

Estimation of cotst activities and assets is very important for the success of any company. Estimated cost of activitie and assets is the basis of management decisons.