{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='How to Estimate Project Costs: A Method for Cost Estimation' data-url='/boclips/videos/65d5c7f93b62064862d792c2' data-video-url='/boclips/videos/65d5c7f93b62064862d792c2' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nHow to Estimate Project Costs: A Method for Cost Estimation\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThere are two reasons why cost estimation is important for project managers. First, it’s extremely hard to estimate project costs well. And second, poor cost estimates are often the biggest reason for a project budget over-run.And...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThere are two reasons why cost estimation is important for project managers. First, it’s extremely hard to estimate project costs well. And second, poor cost estimates are often the biggest reason for a project budget over-run.\u003cbr/\u003e\u003cbr/\u003eAnd there's another factor, which I refer to as the 'project knife-edge'. This is the competing pressures to:\u003cbr/\u003e - reduce your costs to satisfy your funder\u003cbr/\u003e - increase your budget to de-risk your project\u003cbr/\u003e\u003cbr/\u003eAll of this makes estimating project costs tricky. So, in this video, I'll talk you through the best way to estimate project costs:\u003cbr/\u003e\u003cbr/\u003e1. The Project Cost Estimating process\u003cbr/\u003e2. The sources of costs in project management\u003cbr/\u003e3. Estimating methods and my cost estimation tips\u003cbr/\u003e4. How to add a contingency to your project costs\u003cbr/\u003e5. From Estimates to Budget to Cash flow.\u003cbr/\u003e\u003cbr/\u003eYou may also like the companion videos:\u003cbr/\u003e - How to Deliver Effective Project Cost Management\u003cbr/\u003e   ...    • How to Deliver Effective Project Cost...  \u003cbr/\u003e - Project Financial Management – 5 Tips for Good Cost Control | Video\u003cbr/\u003e   ...    • Project Financial Management - 5 Tips...  \u003cbr/\u003e - What is a Discounted Cash Flow (DCF)\u003cbr/\u003e   ...    • What is a Discounted Cash Flow - DCF?  \u003cbr/\u003e - What is a Business Case?\u003cbr/\u003e   ...    • What is a Business Case? Project Mana...  \u003cbr/\u003e - Project Business Case: Write an Effective Project Proposal\u003cbr/\u003e   ...    • Project Business Case: Write an Effec...  \u003cbr/\u003e\u003cbr/\u003eFor more details, check out three thorough articles on our website:\u003cbr/\u003e1. Project Estimation: Master the Art and Craft\u003cbr/\u003e2. Project Cost Management – The Essential Things to Know and Do\u003cbr/\u003e3. 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