Project Cost Estimator Template will facilitate to recognize team efforts as well as project cost for client to submit and control the project.
Benefits of applying Project Cost Estimator Excel Template for Project Management.
Cost Estimator Excel Template is a vital part of project development life cycle (SDLC). The project cost estimator is made after the project imitation for requirement gathering.
It is essential for both the development team and client to estimate the effort and cost to manage the project based on the budget. It facilitates to recognize various stages of project development and how much is costing the each phase.
The preliminary project plan will talk about about project liability and time line to distribute the each module of the project. But the cost estimator will give details about time spent in each stage and the amount of costs to the client.
Some useful steps to form project estimator excel template:
• Split your project into various main phases. As for instance Project Design, Project Development, Project Testing, Project Documentation and Project Management/ Maintenance
• Segregate all main phases into sub phases
• Calculate the time to finish each sub phase
• Work out number of associates (developers, analysts, testers,etc…) necessary to finish each phase
• Calculate if any other cost is contained in project development ( as for example material, software, training,etc…) or project management
• Now generate the template with the above information
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• Lastly sum up all sub tasks into main tasks
• Finally arrange the complete estimates of the Hours, FTE and Project Cost