Calculating Project Costs

you have to define a shedule before .after it will be easy to calculate the

coste of the project.

there's softwair like primavera that can help you.

1. Find out if there was similar project performed by your company
2. If so, obtained itemized cost data and parametric for new project (do not forget to escalate for inflation)
3. If there is no similar project or similar tasks; then proceed as follows:
4. List all tasks to be performed from beginning to completion
5. Determine how each task will be performed (process) and what resources each task requires
6. Estimate Labor hours, Material required, Other Direct Cost such as: Computers Fees, Travel, Fuel, etc.
7. Have your Finance department convert effort and resources required to dollars.
8. Add contingency for things not going as planned

Remember that the accuracy of an estimate is based on the following:

• Knowledge and experience of the estimator
• Amount and Quality of Project Information available
• Time allowed to do estimate