Chart Out Each Cost—and Keep Updating Keep a detailed account of all the spending you do, whether it’s budgeted for or not. This works especially well for projects with a longer time frame, which often involve a greater amount of financial uncertainty. When it comes to project cost estimation, try to use one of the four trusted methods and stick to it. Knowing and being able to trust your methodologies is vital when accurately projecting and measuring costs. For a project that comes with very few details, try analogous estimating. If you’re working on a project that’s similar to one you’ve done in the past, you can use that data in parametric estimation. Three-point estimation is a helpful deduction technique if you’ve got some crucial data but not all the information you need and bottom-up estimation is considered the gold standard for projects that require a meticulous cataloging of costs, progress and time tracking. Whichever estimation type you choose, tracking progress with a cloud-based project management software like Clarizen can be a helpful way to keep everything in order. - Study24x7
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trilok sharma
09 Mar 2019 11:15 AM study24x7 study24x7

Chart Out Each Cost—and Keep Updating Keep a detailed account of all the spending you do, whether it’s budgeted for or not. This works especially well for projects with a longer time frame, which often involve a greater amount of financial uncertainty. When it comes to pro...

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