ACTIVITYCOSTESTIMATESCOMPANYNAMESTREETADDRESSCITY,STATEZIPCODEDATEActivityCostEstimatesTemplateActivityCostEstimatesareavaluableprojectmanagementtoolfordeterminingthecostsforaproject.Muchlikehowaproject’sworkisbrokendownintoactivitiesandworkpackages,theactivitycostestimatebreakstheproject’scostsdowntotheactivitylevelinordertoimprovethereliabilityandaccuracyoftheestimate.Theactivitycostestimateconsiderseachprojectactivityandthecostsassociatedwithcompletingtheactivity.Thesecostsincludedirectcostsforprojectresources,indirectcostswhichmaybepassedontotheproject,andtheamountheldincontingencyreservefortheactivity.Agivenactivitymayhavemanyresourcesallocatedtoitwhichallmustbeaccountedforaspartoftheestimateforthatactivity.Onecharacteristicoftheactivitycostestimateisdocumentinghowtheestimatewasdetermined.Thisisusuallydonebyeitheranalogousorparametricestimating.Analogousestimatingisdoneusingsimilarpastprojectsoractivitiestoestimatecost.Parametricestimatingisdonebydeterminingandusingaunitcostcalculatedoveradurationorquantityofunits.Parametricestimatingisusuallymoreaccurateandshouldresultinahigherconfidencelevel.Anothercharacteristicoftheactivitycostestimateisthatitoftenusesarangefortheactivity’scostestimateaswellasaconfidencelevel.Atdifferentstagesofprojectplanningsomeactivitiesmaybemorewell-definedwhichmayresultinamuchhigherconfidencelevelthanthatofanactivitywithmoreunknowns.Itisimportanttonotethatlikemostprojectmanagementdocumentation,theactivitycostestimateshouldcontinuetoberevisedandimprovedthroughouttheproject’slifecycle.Ingeneral,themoreinformationanddetailthatisavailableforanactivity,themoreaccuratetheactivitycostestimatewillbe.Onceactivitycostestimatesarecompletedforallofaproject’sactivities,thesecanthenbeusedtodeveloptheoverallprojectcostestimate.1ActivityCostEstimatesTemplateStandardActivityCostEstimatesTemplate:ActivityCostEstimatesProject:Date:WBSNo.ResourceDirectCostsIndirectCostsReserveEstimateMethodAssumptions/ConstraintsAdditionalInformationRangeConfidenc...
