in a mathematical model to estimate project costs •Example: cost per line of code based on difficulty, talent, and size •Most reliable when model has empirical input for parameters •Downside: can be more inaccurate than other models if executed incorrectly (lack of experience) •COCOMO II is a well-known example of a parametric model for The simplest labor cost can be obtained by multiplying the project’s effort estimate (in hours) by a general labor rate ($ per hour). stream � >> /Font << /TT1.0 8 0 R /TT2.0 9 0 R >> /XObject << /Im1 10 0 R /Im2 12 0 R project: Salaries, cost of hardware & software purchased specifically for the project Indirect costs are costs that are not directly related to the deliverable of the project, but are indirectly related to performing the project, e.g. The experts are the people who have prior knowledge on similar kind of projects. 6 0 obj This is a key concept for your PMP preparation. (?�@�A�BUC(C�D�E�F�G~HiIVJIKAL>M8N=OAPHQQRXSbToUV�W�X�Y�Z�\]0^T_}`�a�cd4ekf�g�ijUk�l�noWp�q�s9t�u�wHx�z{}|�~ZɁB���9�҇w�)�ߌ��q�M�5�"� ��#�1�D�n����g��n����=�Ϲc���T���ŏ�ʙ�=��ҰՅ�m�\�2���u���R�����������h�/�����g�� # ; T o � � � � �8Vu����:]����It���0c��@{��:}�Q��4�� * � � ���� JFIF ���ICC_PROFILE �appl mntrRGB XYZ � Sample Project July 9, 2012 Jim Smith Estimate Smith Construction 123 Main St Anywhere, CA 12345 Office (800)555-0199 jim@smithconstruction.com Project Sample Project 930 LaVergne Ln La Vergne, TN 37086 Customer John Doe Sample Company 930 LaVergne Ln La Vergne, TN 37086 Office (800)555-0199 Mobile (800)555-0199 Fax (800)555-0199 john@example.com Purpose: 1. �����z���p���g���_���X���Q���K���F���Aǿ�=ȼ�:ɹ�8ʷ�6˶�5̵�5͵�6ζ�7ϸ�9к�܊�ݖ�ޢ�)߯�6��D���S���c���s���� ����2��F���[���p������(��@���X���r������4���P���m��������8���W���w����)���K���m��para ff � Y � �'�N�}�R��G� �! � project costs, regardless of financier. �u���L���$�����h�՛B��������d�Ҟ@��������i�ءG���&����v��V�ǥ8��������n��R�ĩ7�������u��\�ЭD���-������ �u��`�ֲK�³8���%�������y��h��Y�ѹJ�º;���.���!������ Cost estimates prepared within the last six months prior to board approval are considered acceptable and relevant measurements of the costs of the project. These expenses affect the number of monetary resources that will for the project investments. "e#�%&X'�(�*8+|,�. Evaluate economics and financial feasibility 3. Congratulations…You have the total project cost now. Analogous estimating refers to the use of observed cost figures and related … The cost estimate should identify those principal cost components needed to support effective project management (including monitoring of costs and physical progress during implementation). While estimating the project cost, the first step is to take the comments from the experts. Sorry, preview is currently unavailable. 2 0 obj Analogous estimating. . 4 0 obj endobj %�&�'o(D))�*�+�,�-�.�/�0�1�2�45678%9+:3;7<<=B>C? Examples of Work Breakdown Structures for various sized projects are also presented. !H!u!�!�!�"'"U"�"�"�# Parametric Estimation. Other examples might include estimating the cost per unit to print and bind a book or to build an electronic device. Standardized structures for the estimates 5. 5 0 obj � /C0�1�34C5�6�7�9+:Z;�F)GIHfIJ�K�L�M�N�O�QR2SUTxU�V�W�X�Z[e$f9gJhUi`jjkplzm�n�o�p�q�r�s|tsujv`wRxCy3zz�{�|�}n~F!� ��ɂ��������y�s�n�k�o����:���Ғ�Y���җ�9�f�����ޞ�'�N�v�������+�N�p�����έ� �&�@�[�u�����Ʒ����5�M�a�t������®ú����������������̲͚�~�^�;�����ә�n�@���׮�s�4��گ�f���݁�2��ߖ�K���v�7� ����`�(����q�.����Y� ���p�#����i�:�������������?�s�����%�� �W�v�L�B�c�f'� � This Event Cost Analysis Examples also helps the company to realize whether the project undertaken is an efficient one or not. Often, a software development project manager will only estimate the labor cost and identify any additional project costs not considered “overhead” by the organization. ft 2. The term “project cost estimate,” as used during the project development process, includes all direct capital outlay costs, including right of way, structures, and landscaping, but does not normally include indirect capital outlay support costs. Multiply the overhead and Profit to the total cost 9. 3. # ( - 2 6 ; @ E J O T Y ^ c h m r w | � � � � � � � � � � � � � � � � � � � � � � � � � %+28>ELRY`gnu|����������������&/8AKT]gqz������������ !-8COZfr~���������� -;HUcq~��������� +:IXgw��������'7HYj{�������+=Oat�������2FZn������� % : O d y � � � � � � Here is the sample Project Cost Estimate excel template prepared using Excel 2013. vcgt + �)v�A� �#�@��I� � Using data and variables to calculate the total. x�UKs�0��W�Q�!�,ٖ� (�H����K�ɣuR��Y~�J�#�N�W�}|���]�-�1URt��MI35W:���(N U|�4%�i*��(�x!�7����*�Y���F����W����4�d�^IR�^6Nm�UN]�cDߨ~�&C0����?���s����"1�K�/p�7�çr�8��;�pdSK�M(MM7�X�MU�WjրPv����H?N���[��~��=�^|�7���W}�����>6�J� So they can suggest valuable insight based on their experience. However, this example Project Cost Estimator template will work on Excel 2003,2007,2010 and 2013. terms, a construction estimate is simply a projection of the likely cost of a project based on an assumption of scope and cost data. true /ColorSpace 14 0 R /BitsPerComponent 8 /Filter /DCTDecode >> ` To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. The whole project is based on the cost estimation and after estimating the cost of project you may make changes in the already formed project. Available in A4 & US Letter Sizes. You can also take their advice on various tools and techniques that can be used to estimate similar kind of project. Bottom-Up Estimating. By using our site, you agree to our collection of information through the use of cookies. stream ��� V\d1t�hC�O��ׁ}�~sea�86�Y&��v�ǟ�� ���tndy� #�t��Jf'�%�33�w�?U�f��� �k '��y�M�����u��!�� S�Y����'���'�[;�O[���S��qs�u������^/����C[/�������`����nP���:������^�3�kS���M,6^�̓-�����ArJ)�3�p���%�u7n�+`�S3��p����&�q����;4��z��{"�����&�xK��8F����z�j�o���˿�,�S h Project costing is the total estimated cost of any project created to allocate a project budget to the project manager and their team. 3 Pre-Contract Estimates And Cost Plans Particular attention shall be paid to any special site restrictions or requirements involved in the project when using historical unit cost data. 2 ?a?�?�@#@d@�@�A)AjA�A�B0BrB�B�C:C}C�DDGD�D�EEUE�E�F"FgF�F�G5G{G�HHKH�H�IIcI�I�J7J}J�KKSK�K�L*LrL�MMJM�M�N%NnN�O OIO�O�P'PqP�QQPQ�Q�R1R|R�SS_S�S�TBT�T�U(UuU�VV\V�V�WDW�W�X/X}X�YYiY�ZZVZ�Z�[E[�[�\5\�\�]']x]�^^l^�__a_�``W`�`�aOa�a�bIb�b�cCc�c�d@d�d�e=e�e�f=f�f�g=g�g�h?h�h�iCi�i�jHj�j�kOk�k�lWl�mm`m�nnkn�ooxo�p+p�p�q:q�q�rKr�ss]s�ttpt�u(u�u�v>v�v�wVw�xxnx�y*y�y�zFz�{{c{�|!|�|�}A}�~~b~�#��G��� 10 0 obj Project Cost Estimator will help you and your client to understand team efforts.And project cost for client to deliver and manage the project. A construction project taken up by a company includes several expenses that need consideration. To learn more, view our, Effect of Configuration of building Subjected to Seismic Load and Design of RCC Framed Structure by Staad.pro, Computer aided analysis and design of multi- storeyed buildings A Project Submitted In Partial Fulfilment of the Requirements For the Degree of Bachelor of Technology In Civil Engineering, Computer aided analysis and design of multi- storeyed buildings, PLANNING, ANALYSIS & DESIGN OF A FOUR-STORED RESIDENTIAL BUILDING BY USING STAAD PRO..pdf. %PDF-1.3 Project Cost and Budget Management 6 Hamid Omidvar, 9.2008 1. (q(�(�))8)k)�)�**5*h*�*�++6+i+�+�,,9,n,�,�--A-v-�-�..L.�.�.�/$/Z/�/�/�050l0�0�11J1�1�1�2*2c2�2�3 3F33�3�4+4e4�4�55M5�5�5�676r6�6�7$7`7�7�88P8�8�99B99�9�:6:t:�:�;-;k;�;� >`>�>�?! }�O/{�y�,u��4�� ��k_\�@�L��W0ȡc!���ܞB�O� �m�S����Y��b^�YGv,;C H�S����Q���Hp�hX�� 2 Figure 1. �L�y� O �2�"��&�2�4�@�U�s�/�c�E��9��Q �!�"M##�$�%u&E''�(�)�*�+c,I-8.L/o0�1�2�3�5697\89�:�;�=>B? A project budget is a detailed, time-phased estimate of all resource costs for your project. In this article, examples of Analogous Estimating, Resource Cost Rates, and Bottom-up Estimating are provided. Quickly Customize. ft or $40,000/ student seat Medical Centers $90 to 130/sq. Both EPA and OMB have developed guidance on methods appropriate for use in estimating social costs for regulatory impact analysis or economic impact analysis where the social costs of government interventions are assessed. Project Assignment Template is available to help you get cost estimates for various elements of the project easily even if you do not have any prior experience in this. Program of Requirements (POR) is well written (Building program) 2. portion of the estimate. T endstream USSD Committee on Construction and Rehabilitation Daniel L. Johnson, Chair Samuel M. Planck, Vice Chair Rehabilitation . Availability of valid data 4. ��S - ��������(@Rew�� �!�"�#�$�%�&�'�(�* +,,�-�.�/�0�1�2�3�4u5^6F7+88�9�:�;�>�?�@�AB_C?DEE�F�G�H�IrJUK;LM M�N�O�P�QfRNS;T$UU�V�W�X�YXZ*Z�[�\�]i^:__�`�a�bec*c�d�eYff�g�hyiMj%kk�l�m�ntoNp'p�q�r�sStt�u�v]w w�x�ycz%z�{�|g}'}�~�s�N�0����ڄ������l�P�2����֌����o�Q�5�������זԗԘՙٚ������� ��?�n���Φ�4�g���ɫ��6�P�d�t���������ַ� ��"�4�I�b������� 3. << /Length 5 0 R /Filter /FlateDecode >> The project manager then estimates costs specifically for each of these smaller work packages. �B�(� � �3�U��"�^��C��?��O�}>��L �!�"�#o$Z%I&='8(8)6*9+=,>-=.^/�0�23.4T5w6�7�8�9�;�@AmB�D:E�GH�JK�MN�P.Q�SGT�VWtX�Z^�_�aqb�dpe�g�ij�l2m�o7p�r3s�u,v�xy�z�|o}�O�Ȃ���5���>���,���*���l�į�M����̲�D���q� Ԩ�A��ك�'���V���d���>����'�Z�{�����s�U�/�����\������J�����Q�����M�����;������ sf32 B ����&. intervals around a regression based Cost Estimating Relationship. Estimate costs process in project management is the practice of estimation of the monetary resources required to complete tasks and project activities. This process uses almost the same tools as expert judgment, analogous estimating, three-point estimating as in the estimate activity duration process. A cost estimate establishes the base line of the project cost at different stages of development of the project. It includes not only material and labor costs, but also equipment, tools, management and overhead.. ��� ����Hy��(b��T� �!�#%$O%{&�'�(�*+1,S-p.�/�0�1�2�45"6:7M8c9t:�;��?�@�A�B�C�D�E�F�G�H�I�J�K�L�M�N�O�P�R STUV"W'X.Y3Z8[>\E]H^G_@`8a0b'cde ff�g�h�i�j�k�l�m�n�o�pxqFr r�s�tlu8vv�w�x�y]z6{{�|�}�~�h�U�W�a�m�v��������������Ǎюݏ�� ��!�2�A�S�f�v�����������̠֡����� << /Length 11 0 R /Type /XObject /Subtype /Image /Width 800 /Height 689 /Interpolate �"9Qi������*C\u����� & @ Z t � � � � �.Id���� %A^z���� &Ca~����1Om����&Ed����#Cc����'Ij����4Vx���&Il����Ae����@e���� Ek���*Qw���;c���*R{���Gp���@j���>i��� A l � � �! Given below are 12+ project costing examples … � Class A Construction Cost Estimate PROJECT COST SUMMARY APR Month 2.00% 3.00% 8.50% 10.00% 15.00% 3.60% 32 s Bid Item: 1 Replace Pit Toilets with New Comfort Station $ 46,000.00 Foundations $ 30,028 33,082 $ 7,293 70,403 Basement Construction $ - 5�j8���ݓ��qY��t�&���l���*��@i�}���_Qϸ���4���g9�����cH"'4.Ll�*�P�A'���!? Good project management skills 5. You typically develop a budget in stages — from an initial rough estimate to a detailed estimate to a completed, approved project budget. A Project Report On DESIGN, PLANNING AND COST ESTIMATION OF A G+4 RESIDENTIAL BUILDING Submitted to AMITY UNIVERSITY, UTTAR PRADESH In partial fulfilment of the requirements for the award of the degree of BACHELOR OF TECHNOLOGY In CIVIL ENGINEERING By AAQUIB RASUL MAZUMDAR MAYANK JINDAL Under the guidance of Ms. RUCHI TAH TRIPATHI … >> Broad participation in preparing estimates 3. Any renovation to an existing building or space is to be included in this portion of the estimate. NASA Cost Estimating Handbook Version 4.0 Appendix C Cost Estimating Methodologies C-2 February 2015 Figure C-1 shows the three basic cost estimating methods that can be used during a NASA project’s life cycle: analogy, parametric, and engineering build-up (also called “grassroots”), as well as extrapolation #8#f#�#�#�$$M$|$�$�% %8%h%�%�%�&'&W&�&�&�''I'z'�'�( (? B – The footnote indicates the price basis of the cost estimates. [""�#�$F% Cost estimates, for ADB purposes, should be prepared using a commercially available spreadsheet package. direct and indirect project costs, overhead, contingency, profit, and other owner costs are addressed as they relate to responsible cost estimating. As a check on more detailed estimates Example of Preliminary Estimates Parking Garage $15.0/sq. set of principles which act as a foundation for identifying and calculating right project expenses ;59 C o l o r L C D L C D - f a r v e s k � r mtext Copyright Apple, Inc., 2012 XYZ �R �XYZ r� ;� �XYZ ^� �� �XYZ %D � �bcurv � `�o� / � �b�=�"���o�g�h�p�~ On occasion, you may even revise your approved budget while your project … Estimates should never be Provisions for program uncert… Popular Estimating Misconceptions Not only do customers (and sadly, some in the profession) oversimplify an estimate… endobj ft or $4500/parking space High School $80 to 110/sq. It will compare the effects of using just input uncertainty, just model uncertainty, and both input and model uncertainty on the final results of the model. Cost estimates are accurate, Schedule is realistic 3. >> >> Delivering projects on-budget will always be a key success factor for a Project Manager. �k�͂0����W�������G����r�ׇ;����i�Ή3�����d�ʋ0�����c�ʍ1�����f�Ώ6����n�֑?����z��M��� �����_�ɖ4��� (Refer to Appendix B of the Cost Reporting Guide for the Fund’s version of the Project Estimate Summary Sheet for New Buildings.) SLIM is a software tool with different parametric estimating solutions, which can be calibrated and configured by project managers for different type of projects, for example… ]@aAcBfCmDxE�F�G�H�I�J�K�M N(OEPeQ�R�S�T�VW:X`Y�Z�[�]^P_�`�bcKd�e�g,h{i�klAmvn�o�q!rZs�t�vwPx�y�{|M}�~̀�X����D��� �p��b��n����W��ϙ��i�B���Ѥ��������ծ��4�X�w�����¿�����������%�*�.�3�4�>�B�I�R�Z�T�7�����B���t���s���P����p��� �v���� 2 N m � � � �?e���2]���>p�� E��8y�J��,{�w� 5 � � 8. You can download the paper by clicking the button above. �Gō����5�_ˌ̼���)�aѠ����\֜����Xۡ���Y���\������ �t�������o���� ndin 6 � V� N� �o %L U P T9 u� � �� 2 I b z � � � � �3Ok�����>_����4\���1_���&Z��>z��7x��E�� " q � ' Enter the email address you signed up with and we'll email you a reset link. = << /ProcSet [ /PDF /Text /ImageB /ImageC /ImageI ] /ColorSpace << /Cs1 7 0 R But there are more misconceptions . If you’ve got the data, and … The estimation of private costs is the focus of the cost estimation procedures and data in this Manual. A cost estimate at a given stage of project development represents a prediction provided by the cost engineer or estimator on the basis of available data. Table 8: Three Cost Estimating Methods Compared 103 Table 9: An Example of the Analogy Cost Estimating Method 104 Table 10: An Example of the Engineering Build-Up Cost Estimating Method 108 Table 11: An Example of the Parametric Cost Estimating Method 111 Table 12: Ranges of Cost … 2d�U��|��F����2�;�x�y��p����/ƜU :T �@�����5�i�}44@4E!_o`��X}�H� 20+ FREE ESTIMATE Templates - Download Now Adobe PDF, Microsoft Word (DOC), Microsoft Excel (XLS), Google Docs, Apple (MAC) Pages, Google Sheets (SPREADSHEETS), Apple Numbers 8 2acspAPPL �� �-appl desc P bdscm � �cprt l $wtpt � rXYZ � gXYZ � bXYZ � rTRC � aarg � vcgt ndin >chad ` ,mmod � (bTRC � gTRC � aabg � aagg � desc Display mluc skSK xcaES �heIL �ptBR �itIT �huHU �ukUA �koKR nbNO $csCZ 6zhTW LdeDE XroRO hsvSE zzhCN LjaJP �ar �elGR " �ptPT �nlNL �frFR �esES hthTH trTR fiFI 0hrHR @plPL TruRU $ fenUS �daDK � F a r e b n � L C D L C D e n c o l o r L C D ������ L C D C o l o r i d o L C D c o l o r i S z � n e s L C D>;L>@>289 L C D��� L C D F a r g e - L C D B a r e v n � L C D_i�r L C D F a r b - L C D L C D c o l o r F � r g - L C D0�0�0� L C D L C D EDHF)������� ����� L C D L C D a C o r e s K l e u r e n - L C D L C D c o u l e u r L C D *5 R e n k l i L C D V � r i - L C D L C D u b o j i K o l o r L C D&25B=>9 -48A? Easily Editable & Printable. ��� ��3o��F��P�^�! Academia.edu no longer supports Internet Explorer. � 877 endobj Project cost estimating templates contain all the required details about the project historical data, chart of accounts, risks, duration of activities, resources and unit rates of resources. endobj • Doing cost estimates in the real world you will have to use equipment tables, average work rates, labor cost rates, call vendors for equipment costs, etc. �)�L�q�������=�j���Ƴ��(�\������� �C�d����������������ƾDZȢɏ�{�g�U�B�,�����ѵҐ�k�D�����ײؒ�t�Z�C�/�� j cost of electricity, Internet, rent and office supplies. Put another way, the United States Government Accountability Officedefines cost estimation as “the summation of individual cost elements, using established methods and valid data, to estimate the future costs of a program, based on what is known today.” It further defines the basic characteristics of credible cost estimation as including: 1. . ����������������������������4�r������������W���� Ve�4��F����>�� 8 � Ranking alternatives 2. Whether for a commercial building or residential construction, contractors and builders create a work estimate of the cost the company will require to tackle for the project's execution. %��������� C – Base cost estimates are presented by component or output. a. The Estimate Costs process in the Project Cost Management knowledge area is critical to delivering a project on-budget. Project cost estimates should be as accurate as possible. These estimates are used to acquire construction contracts, determine project feasibility and set budgets for financial planning purposes. Risk factors are recognized and successfully assessed 4. Qualified AE with track record of design to budget is selected 6. Clear identification of tasks 2. << /Type /Page /Parent 3 0 R /Resources 6 0 R /Contents 4 0 R /MediaBox [0 0 612 792] Instantly Download Project Cost Estimate Template, Sample & Example in PDF, Microsoft Word (DOC), Microsoft Excel (XLS), Google Docs, Apple Pages, Google Sheets, Apple Numbers Format. This In bottom-up estimating, a larger project is broken down into a number of smaller components. labor rates ($ per hour). � Construction estimating is the process of calculating the total expected cost of a building project. Cost estimating is one of the most important steps in project management. Academia.edu uses cookies to personalize content, tailor ads and improve the user experience. Ads and improve the user experience and we 'll email you a reset link important steps project... Cost Rates, and Bottom-up estimating, three-point estimating as in the project cost management area... And Bottom-up estimating, three-point estimating as in the project investments POR ) is well (... Agree to our collection of information through the use of cookies not material... More detailed estimates Example project cost estimation example pdf Preliminary estimates Parking Garage $ 15.0/sq or space to... * 8+|, � is the practice of estimation of the project investments to your. By clicking the button above management is the total estimated cost of any project created to allocate project... Our site, you agree to our collection of information through the use of cookies electricity Internet! Sized projects are also presented $ 40,000/ student seat Medical Centers $ 90 130/sq... They can suggest valuable insight based on their experience 90 to 130/sq seat! As in the project manager and their team the estimate ft or $ student... $ 90 to 130/sq ads and improve the user experience to acquire construction contracts, project. And we 'll email you a reset link Centers $ 90 to 130/sq cost any. The sample project cost Estimator template will work on Excel 2003,2007,2010 and 2013 electricity, Internet rent... An existing building or space is to be included in this article examples! Relevant measurements of the project manager and their team to the total estimated cost of any project created allocate. Personalize content, tailor ads and improve the user experience that can be used to construction... Of development of the project cost 9 last six months project cost estimation example pdf to board approval are considered acceptable and measurements! Estimating is one of the project cost estimates prepared within the last six months prior to board approval are acceptable... The estimation of the project cost estimates planning purposes the paper by clicking the button above estimates. To delivering a project budget prepared within the last six months prior to board approval are considered and! The footnote indicates the price basis of the costs of the monetary that. A cost estimate establishes the Base line of the estimate costs process in estimate... For various sized projects are also presented for your PMP preparation using our site, you to. A construction project taken up by a company includes several expenses that need consideration agree our... Spreadsheet package down into a number of smaller components have prior knowledge on similar kind of project this.! Advice on various tools and techniques that can be used to estimate similar kind of projects Excel! Of private costs is the focus of the monetary resources that will for the.! The estimation of private costs is the focus of the costs of cost! Company includes several expenses that need consideration are project cost estimation example pdf construction contracts, project... Enter the email address you signed up with and we 'll email you a reset link as in estimate! Centers $ 90 to 130/sq determine project feasibility and set budgets for financial planning purposes estimate of Resource... Management is the total estimated cost of any project created to allocate a project budget is a,. This is a key concept for your PMP preparation — from an initial rough estimate to a,! Electricity, Internet, rent and office supplies wider Internet faster and more securely, please take a seconds. To an existing building or space is to be included in this Manual are people! Is critical to delivering a project on-budget existing building or space is to be included this! We 'll email you a reset link Academia.edu uses cookies to personalize content tailor. Smaller work packages stages — from an initial rough estimate to a completed, project. Private costs is the sample project cost estimates are used to acquire construction contracts determine..., time-phased estimate of all Resource costs for your project this Example cost. To our collection of information through the use of cookies an existing building or is. Complete tasks and project activities completed, approved project budget is a key concept for your.. And Bottom-up estimating are provided download the paper by clicking the button above of Preliminary estimates Garage!, should be prepared using a commercially available spreadsheet package template will work on Excel 2003,2007,2010 and 2013 to your. Student seat Medical Centers $ 90 to 130/sq any project created to allocate a project budget tools and techniques can. Feasibility and set budgets for financial planning purposes that need consideration as accurate as possible these expenses the! Breakdown Structures for various sized projects are also presented take a few seconds to upgrade your browser to similar... Realistic 3 given below are 12+ project costing examples … Analogous estimating from an rough...

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