Project cost management
What is a cost breakdown structure (CBS)? A step-by-step guide
What is a cost breakdown structure (CBS)? A step-by-step guide A solid cost breakdown structure is a cornerstone of successful project management. It gives you total...
Soft costs and how to plan for them
When planning a construction project, it’s easy to overlook costs that you can’t directly see or touch. Your mind might tend to gravitate toward the costs of...
Time cost: what it is and how it affects projects
“Time is money.” You’ve likely heard this dusty platitude on countless occasions. And if you’re like most people, you probably take it for granted. Slowly...
Estimate at Completion (EAC) and Its Use in Project Tracking
The beginning of a project is always surrounded by expectations, and many ideas seem perfect when they’re still on paper. Planning every detail, setting goals, and...
How to use analogous estimating for better budgeting
Businesses are always looking for new and accurate ways to estimate the cost and duration of future projects. When there’s limited project information available,...
How order of magnitude can provide an early Idea of cost
Cost — it’s probably something you don’t look forward to bringing up with your stakeholders, but it’s a crucial discussion if you want to get your project...
Budgeted Cost of Work Performed (BCWP) and its effects on analysis
Have you ever accidentally gone over budget at the grocery store? You’re browsing, pick up a few extra items, and realize once you reach the checkout line that you...
Cost estimate in project management: a critical success factor
Estimating costs as accurately as possible can mean the difference between getting projects up and running quickly vs. encountering delays or cancellations. Cost...
Fast and simple cost comparison template
A cost comparison template helps you analyze different options side by side and maximize your budget. Not only does it save you time and money, but it can also boost...
All-in-one budget proposal template
Let’s face it — new business projects can require a lot of buy-in and resources. Persuading relevant stakeholders to invest in a new project isn’t easy — and...
Should you be using an Excel spreadsheet for business expenses?
Tracking business expenses in a spreadsheet can do wonders for your financial visibility — especially if you don’t have an in-house accounting team or a ready-made...
Estimate templates: the simple way to create job estimates
Estimating costs isn’t always the glamorous part of a job. However, preparing estimates is essential to successfully landing projects and completing them on time (and...
A Brief Guide on S-curves in Project Management
If you’ve come across this blog, you likely found yourself searching the web, “What is an S-Curve? Rather than getting lost in a storm of different business models...
Cost variance: the key to keep projects under budget
All projects have various costs associated with them. Ideally, these costs have been planned for ahead of time and detailed in a project budget. The tricky part can be...
Complete guide to effective cost management
Budgets can make or break any project. You’ve got to be able to keep tabs on the cash, time, and resources you’re working with at all times. You’ll also need to...