How to Achieve Accurate Project Time and Cost Estimates
By Paul A. Weber
What are Time & Cost estimates?
These are the project estimates in relation to how much time is required for your project. Cost is related to how much financial investment will be necessary for your project,
Why Time & Cost estimates are important?
I know you are thinking “This goes without saying”, but let’s explore this point anyway. Time and cost estimates are intertwined, because either one has a direct effect on the other. When determining the cost of a project, or a specific area of a project, time estimates are usually included, because time is literally money. Projects are not only cost determined based on material, but also according to the time estimated for project completion. This time is usually applied to the overall cost of the project because people get paid for the actually work they perform, but also the time taken to complete a task. Read the Complete Article