Estimating Project Costs

All of the cost inputs are needed so that the project cost estimator, likely the project management team, can create a reliable cost estimate. The estimates you'll want to know for the CAPM and PMP exam, and for your career, are reflective of the accuracy of the information the estimate is based upon. The more accurate the information, the better the cost estimate will be. Basically, all cost estimates move through progressive elaboration: As more details become available, the more accurate the cost estimate is likely to be. Let's examine the most common approaches to determining how much a project is likely to cost.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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