Basis of Cost Estimates Template

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This one-page Basis of Cost Estimates template is developed by a PMP certified project manager. Its’ purpose is to document how costs are estimated for each project activity. It is fully editable and ready for use on your project

Description

This Basis of Cost Estimates template is a project document designed to capture how cost estimates are calculated for each project activity. For each task, our template captures the estimating technique and the supporting data.

This template is developed to support a wide range of project types and sizes. Specifically, it:

  • begins with a section that captures relevant project information;
  • provides for assigning identification numbers and descriptions for each activity;
  • prompts the Project Manager to record information by task; (E.g., it provides sections to include task IDs, task titles, task descriptions, cost to complete, the estimating technique used, and the supporting data relied upon for arriving at the cost estimate) and
  • provides for totaling the estimated task costs to calculate the cost of the project activity.

Who Creates the Basis of Cost Estimates?

Typically, the Project Manager documents the basis of cost estimates. Of course, this accounts for the input of various project team members, other stakeholders, and the project sponsor.

What Are the Inputs?

There are numerous inputs to developing the Basis of Cost Estimates, including the cost breakdown structure and the cost management plan.


Make Work Easier

We know this template will make your work easier. Want an even a better solution? Consider getting The Practitioner’s Book of Project Management Templates. This set of 86 templates will support you throughout the project life cycle. By the way, it includes this Basis of Cost Estimates template.

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