A Cost/Benefit analysis is the process of comparing the projected or estimated costs and benefits associated with a project decision. This Cost/Benefit analysis could be…
Posts tagged as “Cost”
There are many ways to price a contract, the most common being Firm Fixed Price (FFP) and Time and Materials (T&M). Selecting the right contract…
T&M, short for Time and Materials, is a common pricing methodology that is used when the project scope is not clearly defined or when the…
Have you ever sat in a conference room with a dozen or more people around the table and wondered why are we here? I have,…
Do you plan for travel time and travel expenses when bidding, proposing, or planning projects? If not, you should and here is why. Let’s say…
Project managers are likely to encounter 4 types of cost as they plan and manage projects. They are fixed and variable costs, and direct and…
To many, these are confusing terms, and they are frequently used interchangeably. The fact is they are not the same and we as project managers…
Is there a difference? You bet, and understanding the difference between these confusing terms may impact the profit you make on your project. Let’s define…
According to the businessdictionary.com, margin is defined to be: the difference between the cost price and the selling price of a product. In other words,…
Estimating project costs is hard. Get it right and you are a hero. Get it wrong and you get roasted. Work package estimates should be…