Project cost estimation template

Every project manager has to take care of the cost of a project. Use this to calculate it within Excel.

Project cost estimation

Here's a simple method to create a project cost estimation template in Microsoft Excel:

1. Enter data into Excel regarding project cost. In the first row, create headings for the different categories of costs you want to include in your template. Some common categories include materials, labor, equipment, and overhead.

Project cost estimation data table

2. Calculate the total of each stage by using the sum formula. Then drag it horizontally to get the sum of the other columns.

Project cost estimation total of each

3. Revise step two for stage 2 total.

Project cost estimation total for stage two

Preparation of a project cost template

4. Now, add another column of total cost per unit, which includes all horizontal additions.

Project cost estimation add another column

5. Make two more rows below this table:

Project cost estimation add rows

6. Enter the number of units in the cell corresponding to the units to be produced. Then, multiply the units to be produced by the total cost per unit (both highlighted in red in the following screen shot). This is your total cost of production.

project costs estimation

This is how to estimate project costs in Excel. Save the template and use it for future project cost estimations.

Download a free project cost estimation template here.

Note: You can also use conditional formatting to highlight cells if the cost exceeds a certain threshold, or use charts and graphs to visualize the cost breakdown.