Project Cost Estimating Template in Excel

Project Cost Estimating Template in Excel

Project Cost Estimating Template in Excel
Project Cost Estimating Template in Excel

Project Cost Estimating Template in Excel Free Download

Cost estimation in project management is the process of forecasting the cost and other resources needed to complete a project within a defined scope. Cost estimation accounts for each element required for the project and calculates a total amount that determines a project's budget.

Instructions For Completing This Document

Complete the Project Name, NC, Project Manager Name, and Project Start Date. Define a standard unit of measure for all estimates (hours, days, dollars, etc) 

For each estimate complete the following:
  1.  Estimator Name: This column should be populated with the name of the individual providing the estimate 
  2. Description of Activity Being Estimated: This column should be populated with a description of the schedule activity being estimated 
  3. Estimate Date:  This column should be populated with the date that the estimate was performed. 
  4. Best Case Estimate: This column should be populated with an estimate that is based on the best-case scenario for work completion 
  5. Most Likely Estimate: This column should be populated with an estimate that, given the resources available to do the work, is the most realistically expected 
  6. Worst Case Estimate: This column should be populated with an estimate that is based on the worst-case scenario for work completion 
  7. Weighted Average Estimate: This column is automatically calculated using a mathematical formula to determine a weighted average of the three types of estimates and uses the formula (Estimate=[Optimistic+[4*Most Likely]+Pessimistic]/6) to calculate that weighted average estimate.

Instructions For Filtering Data in Project Cost Estimating Template for Any Column:

  • Highlight the header of the cell you wish to filter data on. 
  • From the file menu click "Date" -> "Filter" ->"Auto Filter". 
  • Then select your filter criteria from the drop down menu that appears on your header cell.
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