Independent Cost Estimate Template


This six-page Independent Cost Estimate template is used for validating whether the estimated cost of a proposed effort is accurate and reasonable. Among other things, this template supports project procurement management.

This Independent Cost Estimate template is prepared to validate the estimated cost of a proposed effort or to help determine an acquisition strategy. It is used to assess whether an existing cost estimate or project estimate is accurate and reasonable. Because it is a cross-checking tool, it is prepared independently of those who support undertaking the acquisition or the project.

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,
  • captures the estimated costs of direct labor, indirect labor, materials and travel;
  • includes sections for provided the basis of estimates; and
  • provides Year 1 – Year 4 cost estimate totals.

Who Creates the Independent Cost Estimate?

 Independent cost estimates are generated by independent third parties.

What Are the Inputs?

The inputs to the Independent Cost Estimate may include labor rates, historical information, travel rates, costs of materials, and market conditions affecting those costs.

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. Our e-book contains a complete set of editable, project management templates. It expedites development of project management plans and supports project managers throughout the project life cycle. By the way, it includes this Independent Cost Estimate template.

Consider a Set of Templates