How To Prepare Simple Cost Estimate Templates

Running a successful business is all about managing time and available resources. Business opportunities come quick and disappear just as fast so if you want to be in a position to take the best advantage of the opportunities, you need to move faster than your business rivals.

For this reason, a lot of companies create templates for most of their business approximations. Companies do this so that they can just simply put in the numbers in these templates before presenting their bids to clients. Instead of manually coming up with the numbers and the estimates that will take up a lot of time, they come up with templates before hand to quicken the process. Some companies even create their own software programs.

These templates even come into play when presenting project cost estimates. It’s just a simple matter of inputting the data and you get a ballpark figure for what the project will cost. Creating cost estimate templates can benefit small businesses like events management ones to huge industries like manufacturing or automotive.

The idea for creating a cost estimate template is to come up with an itemized list of what a bid or project will cost. This allows the companies to see where the money will go and how much will be allotted for each phase of the project.

  • Software. Some software actually can help you create these templates, Microsoft Office being the primary among these software programs. If you wish to use MS Office, you can use MS Excel or MS Word to create these templates.
  • MS Excel. Among the software programs you can use, Excel is chief among them. Excel already has the columns and rows ready and with a few commands, you can even have the program add up the sum of your itemized expenses.
  • MS Word. This program is primarily for word processing, but if you create a table for the items in your cost estimate template, you should be able to neatly arrange the estimates. Choosing Word to create the cost estimate template is a little more difficult that going with Excel but it comes down to the same end result afterwards.
  • Numbers. Bundled with the iWork suite, Numbers is a program that is close to the Excel program that allows you to work with personal finances. You can also use some of the default templates to create a cost estimate template for you by repurposing it to fit your project requirements.
  • Adobe Acrobat. You can also create the cost estimate template using Adobe Acrobat that allows you to save the files in .PDF, which is a universally accepted file format for documents. Because of its cross-platform compatibility .PDF is best for delivering cost estimate templates because it can be used in either PC or Mac.

Each of the software above is a good program to create cost estimate templates. They are easy to use, easy to understand and can be custom fit to address the requirements of a project. You can find tutorials for any of the programs above by going online and visiting user forums.


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