Cost Estimating Spreadsheet

What is the purpose of a cost estimating spreadsheet? What are they used for? Download it at the link below

  • Cost estimating spreadsheets, also known as pricing models, are essential tools for collating and summarizing direct cost estimates for projects.

  • These spreadsheets should contain all input data and calculations, including productivity assumptions, labor, plant and material rate build ups, and quantity take offs.

  • The pricing model should clearly show all calculations and provide estimate traceability so that anybody looking at it can understand how the estimate was built up.

  • To create a cost estimating spreadsheet, you will need to consider all the different activities in your Work Breakdown Structure, and then list these out line by line showing all the different activities.

Learn to use the pricing model!

What is a Pricing Model?

A cost estimating spreadsheet, also known as a pricing model, is a critical tool for accurately determining project costs. It is a document that collates all the necessary data and calculations to provide an estimate of the project's direct costs. As an essential tool for cost estimation, it's important to understand what a pricing model is, what it does, and how it works.

A pricing model needs to contain all input data and calculations, including input prices and rates, productivity assumptions, labour, plant, and material rate build-ups, and quantity take-offs. It needs to show all calculations clearly and provide estimate traceability. The goal is to get the cost per activity and then sum these together to get our total direct costs.

The structure of a pricing model is typically based around the various activities listed in the Work Breakdown Structure. Each activity has a per-unit cost, which is made up of labour, plant, material, and sub-contract costs. Combining these costs together will give you the total per-unit cost for the activity.

To calculate the costs for each of labour, plant, materials, and sub-contract, you need to determine the resources needed to complete one unit of work. Each resource code has a different rate, and changing the resource code will select a different rate. These rates are calculated in the labour, plant, material, and sub-contract sheets at the bottom of the screen.

A cost estimating spreadsheet is an essential tool for any project manager, estimator, or contractor. It helps to provide an accurate estimate of project costs and provides traceability and understanding of how the estimate was arrived at. By providing a detailed pricing model to clients, you can build trust and ensure that the project is completed within budget.

If you're looking for a cost estimating spreadsheet, you can download a free pricing model from our website. Our pricing model is easy to use, contains all the necessary calculations, and provides estimate traceability. Download our cost estimating spreadsheet today and start accurately estimating project costs!