Any business or project to be handled must be subjected to an estimate in time and cost before it is allowed to proceed. An estimation of the time required in completing the project or task together with an estimated cost is very vital in today’s business to ensure that the budget for the project is not exceeded. This is to assure that profit is secured.
An estimate template is important to assist the project manager in evaluating the possible profit from the proposal to the company that is offering the project. An estimate template will guide the user in checking on the various components that will incur cost to allow a proper computation of the total expenses and hence, the bottom line profit.
An estimate template may contain the following sections information:
* Date of Proposal
* Company’s Name & Address
* Client’s Name & Address
* Job description
* Expected duration of project with schedules
* Derivation of Estimated Direct Expenses
* Travel cost
* Total Estimated Cost
An estimate proposal is not a contract; hence, it is not fixed. Its contents can be changed as per negotiations. Therefore, an estimate template is very useful in modifying the contents of the estimate proposal until both parties are happy and agreeable to all the terms and conditions in the proposed estimates for the said project or task. The final copy can be printed and signed.
Consider the attached sample template for your convenience.