Project cost estimation

Discussion in 'The Projects Forum' started by cheypr, May 6, 2013.

  1. cheypr

    Thread Starter Active Member

    Oct 13, 2009
    I have to d a cost estimation for my project and I was wondering if you guys know a good software, spreadsheet, template, guide, etc that could help me do it. I have never done a project cost estimation before. My project consist of a child seat restraint alarm based on bluetooth. I was thinking to include time of development + materials + labor + production.

    Open to suggestions :cool:
  2. tshuck

    Well-Known Member

    Oct 18, 2012
    Excel? That's what I typically use.
    cheypr likes this.
  3. wayneh


    Sep 9, 2010

    I think the tool you use is secondary to the process you use to include and estimate all timelines and costs. This isn't a "big" project that screams for a dedicated tool. I've managed much larger projects using only Excel to keep track of people's responsibilities.

    Don't forget to cast a wide net, and get patent lawyers and regulatory approval folks involved as early as you can. Those can often be the rate-limiting timelines.
    cheypr likes this.
  4. WBahn


    Mar 31, 2012
    +1 more.

    A spreadsheet is more than enough. You can do it in Word or just on a piece of note paper. The key isn't in what you do with the numbers -- that's trivial and well defined. The key is in coming up with good numbers to begin with, and that's a YOU task.
    cheypr likes this.