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Template - Project Estimating

This template provides an example for estimating project hours and costs. It outlines key tasks, estimated hours for each task considering frequency and iterations, and sample comments. A total estimated cost is provided based on departmental labor rates. Assumptions made in developing the estimate are stated to allow for updates if requirements change. The level of detail in the template helps establish a bottom-up estimate and track hours across multiple iterations to capture true project costs.

Uploaded by

Karl Labagala
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© © All Rights Reserved
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113 views1 page

Template - Project Estimating

This template provides an example for estimating project hours and costs. It outlines key tasks, estimated hours for each task considering frequency and iterations, and sample comments. A total estimated cost is provided based on departmental labor rates. Assumptions made in developing the estimate are stated to allow for updates if requirements change. The level of detail in the template helps establish a bottom-up estimate and track hours across multiple iterations to capture true project costs.

Uploaded by

Karl Labagala
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Helping Managers and Businesses Succeed

Through Real Experience

Sample Template for Project Estimating

This template is intended to provide an example breakdown of hours and effort associated with a given project. The
comments listed in the boxes to the right highlight the various benefits associated with this particular template. The
more detail you put into the estimate, the better your estimate will be.

Project Management
Line Task Description Frequency Hours Iterations Total Comment
1 Build Project Schedule One Time 12 1 12 Define Each Task to be Performed.
2 Update Project Schedule Monthly 4 11 44 This Helps Establish a Bottoms-Up
3 Manage Project Financials Biweekly 4 26 104 Estimate Of What is Required
4 Produce Project Reports Monthly 4 12 48
5 Customer Status Meeting Weekly 1.5 52 78 Outline the Number of Hours You
6 Executive Presentations Quarterly 2 4 8 Preparation and Presentation Anticipate Each Task Will Take.
Project Management Total 294

Product Development
Line Task Description Frequency Hours Iterations Total Comment
7 Conceptual Designs One Time 60 2 120
8 Development Design One Time 250 1 250
9 Design Review Preparation Quarterly 20 4 80 Include Comments as Appropriate to
10 Design Reviews Quarterly 25 4 100 Add Any Detail Necessary to Explain
11 Schematic Development One Time 3 40 120 Assume 40 schematics the Numbers
12 Prototype Development One Time 80 1 80
13 Test Planning One Time 40 1 40
14 Prototype Testing Monthly 2 12 24
15 Test Report One Time 6 1 6
16 Final Design and Closeout One Time 75 1 75
Product Development Total 820

Manufacturing
Line Task Description Frequency Hours Iterations Total Comment
17 Order Raw Materials One Time 4 1 4 Include A Task Description and the
18 Update Manufacturing Plan Monthly 2 12 24 Frequency at Which the Task Will be
19 Build Prototype One Time 24 1 24 Performed. This Helps Capture
Hours Associated with Multiple
20 Build Test Rig One Time 12 1 12
Iterations
Manufacturing Total 64

Administrative
Line Task Description Frequency Hours Iterations Total Comment Break the Estimated Effort Into
21 Team Meetings (1 Hour) Weekly 5 50 250 Assume 5 member team Subgroups to Help Apply the Correct
22 Update Project Team Template Weekly 1 50 50 Costs Values. It Also Helps Outline
23 Customer Visit Monthly 8 12 96 How Much Effort Is Required From
Administrative Total 396 Each Department

Total Labor Costs


Line Function Hours Rate Total Comment
24 Project Management 294 50 € 14,700
25 Product Development 820 47 € 38,540 Include a Cost Roll Up Based on the
26 Manufacturing 64 45 € 2,880 Labor Rate Of Each Department.
27 Administrative 396 48 € 19,008 Averaged Team Rate
Total Labor Cost € 75,128

State the Assumptions You Made In


Assumptions
Establishing The Estimate. Should
28 Project assumed to be 1 year long (52 weeks)
Anything Change That Affects
29 Assume a 5 member project team, including project manager
Assumptions, You Will Know How To
30 Assumes customer does not change initial requirements Update the Estimate. They Also Help
You Refesh Your Memory Many
Months Later!

www.managersresourcehandbook.com Page |1 Rev. 1

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