Estimating Cost and Allocating Resources

In project management one of the hardest things is doing the budget and making sure that everything is allocated for. Developing project budgets is typically more difficult than developing regular departmental budgeting which usually follow the formula “the same as last year plus X percent” (Portny, Mantel, Meredith, Shafer, and Sutton, 2008) . For this week’s blog assignment I had to find two blogs that provided budgeting or estimating cost for a project.

The first blog resource that I found was called Constructing Cost Estimating Blog. The blog goes into detail about the construction of Schedule Templates for Excel which is for residential, commercial, and generic construction projects. The excel template is used for a 5-day schedules but it also can be reused on an ongoing basis as required. It keeps track of the construction process which enables the homeowners, builders, designers and constructions managers to plan and manage construction jobs in a much more effective way. Using the excel template will allow the project manager to save money and also satisfy the clients requirements in the least time possible. Having an excel template that will allow the project manager to have a weekly report of the money that is begin used for that week. It will only help the project manager to see where the money is going and also be transparent with the client of where the money is and can also help the client to make better decision on what is important and is not.   projectestimating.blogspot.com

The second blog resource that I found was called True Planning to Pro-Pricer Data Walkthrough. This blog provides how data can flow between TruePlanning and ProPrice. ProPricer is a estimating software application that will provide any user with the ability to track data for the labor requirement estimated in  TruePlanning and transferred over into  ProPricer in an easy way. This application will allow the project manager to see the data in a much easier way. By using ProPricer it allows you to transfer data from one application to another which is a great advantage when seening how the budget will affect the overall scope of the project. This information can be shared with the client in an easier way by showing them all of the data and how it is broken down in both applications which will help the client to make better sound decisions and not ones off of impulse. http://www.pricesystems.com/Blog/TabId/458/PostId/290/trueplanning-to-propricer-data-walkthrough-1.aspx

Overall, budget is very difficult to plan and manage because there are many things that can happened during a project especially when the president or client is very demanding can have an effect on how the money is spent because; of the added pressure from the top down. Making sure that the project stays on schedule depends on the budget and the flexibility that is allowed in the project.     

Portny, S. E., Mantel, S. J., Meredith, J. R., Shafer, S. M., Sutton, M. M., & Kramer, B. E. (2008). Project management: Planning, scheduling, and controlling projects. Hoboken, NJ: John Wiley & Sons, Inc.
projectestimating.blogspot.com
http://www.pricesystems.com/Blog/TabId/458/PostId/290/trueplanning-to-propricer-data-