One of the first tasks when managing a project is the cost estimate. A cost estimate must be accurate, transparent and reliable. These factors are particularly important for a small business because ...

There are three main areas to estimate before your project starts--effort, duration, and cost. Of the three, you must estimate effort first to understand the total amount of work. The duration can be ...

Let’s start with some estimate definitions – The first type of estimate is called an “order of magnitude” estimate. This is usually a guess that some upper-level has determined is the right amount of ...

The purpose of the estimate is two-fold. First, it allows the contractor to enter into a contractual agreement with confidence. Second, it provides an organized, detailed plan to execute the project ...

Estimates are one of the most crucial aspects of planning a construction project. Since it is associated with forecasting the total job costs, a good estimate should contain all the expenses that are ...

Use this process to estimate a project’s effort hours Your email has been sent Editor’s note: This article was originally published December 11, 2006. There are three early estimates that are needed ...

When small business owners need contract work done, they almost always ask for bid estimates from contractors that detail the expected costs and time required to complete a project. Analytical ...