Reference no: EM132348286

Estimating is a critical part of project planning, involving a quantitative estimate of project costs, resources or duration, (Leybourn, E. (2016). There are many different methods that can be used when looking to properly estimate and to plan for budgeted costs when working on a project. There are many factors that need to be considered when looking to plan out time and materials. Timing and materials are the most flexible segment of a contract. A work based structure is a helpful tool that can be used to organize the objectives and estimates in the project by helping to categorize and to keep the project organized. It is important for the team to do the groundwork and to work with the different departments to determine whether or not all costs have been accounted for in the estimate. By working with other departments, this helps to eliminate surprises down the road for unexpected costs to arise which could throw an estimate off kilter.

How does this work on your job?