Preparing Cost estimation for projects

Gurus,

We shall discuss about the cost estimation preparation for the projects in this article. This is a more important document from which you will get paid by your customer / client. The name of the project, project manager and the date prepared should appear in the top at all the pages of the document.

We can categorize the costing like: Labor (Employee and contract), outsourced work, Travel, Training, Equipment, Supplies, Hardware and software required for that project, and project management cost in the main area. We can also add the Risk Contingency cost and Estimating contingency cost in the cost estimation document so that, it will provide the through information of costing to the audience of the document.

We can build a table like the following:

Name of the project:    <NAME> 
Name of the project manager:    <NAME> 
Date prepared:  <DATE> 

It should be the header for all the pages of cost estimation document. We can build the attributes as follows:

Category        Comments        Cost   
Labor (Employee)                       
Labor (Contract / Others)                      
Outsourcing cost                       
Travel                 
Training                       
Equipment                      
Supplies                       
Hardware                       
Software                       
Net Total               Net Cost       
Project management                     
Risk Contingency                       
Estimating Contingency                 
Grand Total             Total Cost     

We can use the comments column to make any comments so that, the audience will be very clear about the cost estimation technique we are following.

Kindly do not hesitate to share your comments on this. It will help both side to improve the idea about the cost estimation documents.

Catch you later…. BYE for now… J

CHEERS!!!