![]() ![]() Well, estimations are difficult to get right. So why are project cost estimations such a headache for project managers? It's one of the major factors that will determine whether or not an agency has the capacity to take the work on, and even more importantly, whether the project can make a profit. That's what makes project cost estimation – or rather accurate project cost estimation – such an essential part of the project planning process. The project's manager uses this figure to create an accurate quote for a client and decide whether or not there are enough resources available to complete the project within a realistic budget. ![]() Project cost estimating is when a project manager predicts how much a project will cost to complete by calculating time, resources, and other expenses.Įstimating the cost of a project happens well before the project work starts. ![]() Try for free What is project cost estimation? ![]()
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