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Cost estimation Assignment | College Homework Help

  1. Why is cost estimation such an important component of project planning?  Discuss how it links together with the Work Breakdown Structure and project schedule?
  2. Think of an example of parametric estimating in your personal experience, such as the use of a cost multiplier based on a similar, past cost.  Did parametric estimating work or not.  Discuss the reasons why.
  3. Would you prefer the use of bottom-up or top-down budgeting for project cost control?  What are the advantages and disadvantages with each approach?


  1. Calculate the direct cost of labor for a project team member using the following data:

Hourly rate:                 $35/hr.

Hours needed:             150

Overhead rate:             55%

2. Assume that overhead is charged on a flat rate basis.Each member of the project is assigned an overhead charge of $150/week.What would the direct cost of labor be for an employee, given that she is  assigned to the project for 200 hours at $10.50/hour?


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