Download FREE Activity Cost Estimation Sheet Template

Download Activity Cost Estimation Sheet

What is the Activity Cost Estimation Sheet Template

The activity cost estimation sheet is a tool for used for the approximation of the cost of a certain activity that aggregates to the total cost of a deliverable and consequently to the entire project. The sheet is the product of the cost estimating process.

With the help of the tool, the

  • Material costs,
  • Labor costs and
  • Machine/equipment/tools costs

for a specific activity can be calculated in detail.

Prepared by: Marc Arnecke, PMP

Created: 05/11/2014

Last Modified: 05/06/2018

File Type: MS Excel

How to Estimate Activity Cost the Right Way?

A cost sheet is a document that aggregates all estimated costs associated with a certain product, a part thereof, or a service. In connection with the cost calculation for a particular project, I propose to calculate the costs individually for each individual task or activity. This may be a bit of a hassle, but you get a pretty accurate result.

The cost sheet forms the basis of budget estimates and can serve as a benchmark in cost control. It can also be used in the preparation of offers. The cost estimate can be created using my activity cost estimation sheet template or simply on a sheet of paper. The use of my template is probably a bit more comfortable.

The costs taken into account in my template are categorized into

  • Material costs,
  • Labor costs and
  • Machine/equipment/tools costs.

Please note that my template only includes direct costs. Indirect costs such as overheads and a profit margin are not included here and in most cases are added as a certain percentage on top of the calculated direct costs. This approach was chosen because the estimation can then be used for different projects, as long as certain external parameters are comparable.

Please also note that some cost estimates may be subject to certain "correction factors". What is meant is that, for example, painting one square meter wall causes certain incidental costs. However, it must be considered, that the effort changes from floor to floor.

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