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8 Major Tools And Techniques For Estimate Project Costs

In my previous articles, I have talked about some of the major inputs for estimate project costs for projects. In this article, I want to look at some of the major tools and techniques for estimate project costs for projects. Follow me as we look at this together in this article. 

 

Now the tools…

 

#1 Expert judgement 

You will always need to rely on experts when you need to determine the amount it will cost to execute your project activities. You have to get inputs from all stakeholders that have one or two things to do about your project. This will ensure that you have a realistic budget for your project. 

 

Note that experts should be considered from individual or groups with specialized knowledge or training in the following areas: previous similar projects, the information in the industry, discipline and application; cost estimating methods among others. 

 

8 Major Tools And Techniques For Estimate Project Costs

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