Please update your browser
We have detected that you are using an outdated browser that will prevent you from using
certain features. An update is required to improve your browsing experience.
-
Module 1 Discussion: Estimating Cost
1 ReplyIf the project is in the very early stages, how does one effectively estimate cost?
1 Reply
-
Well at the planning stage it is important to spend sometime on finalizing all aspects of the project especially the cost. An estimated cost needed to be defined and get approved from relevant authorities before starting of the project. Once the project has been started, M&E and audit teams check and evaluate whether the project is moving forward as per the cost estimated or we are deviating from what we have perceived/estimated at planning stage.
M&E plan usually reflects the estimated cost already finalized in planning stage. So in case the cost is not finalized for a project at very early stage, it is recommended to spend sometime and finalize an estimated cost going forward.
Regards.
