Software Project Estimate Excel Template and Example

Free Software Project Estimate Template in Excel / Google Sheets  The template below has been successfully used in dozen of software development project. It calculates total project effort based on development estimates.  You can finetune the template to your project by adjusting corresponding percentages. Please follow the steps below to obtain full and realistic project estimate. Free Excel Software Project Estimate Template Free Google Sheets Software Project Estimate Template How to use this template Please follow the steps below to obtain full project estimate. Fill-in the cover.  It is important to list all the assumptions that make your estimate relevant. They may include the versions of frameworks, agreements with your client or contractors, disputable points in project scope definition, requirements etc. Place them onto Assumptions sheet. Create a WBS for your project. Noun-based WBS is preferable. List the work items in ESTIMATE sheet. Carefully read the contract, RFP or any

Five Secrets of Project Estimation

secrets of project estimate

“Prediction is very difficult, especially about the future.”
Niels Bohr, Danish physicist
  1. Project estimation is a game. There are at least two players in this game: Customer and Estimator. Precise estimation is impossible due to stochastic nature of any project. Thus, Estimator has two strategies:
    • Be optimistic, take higher risk and increase the chances to sell his service
    • Be pessimistic, and increase chances of project success but lower the chances to sell
  2. Project estimation is more about scoping and expectations management than numbers. No matter how precise your numbers are, poor scope definition can kills the project easily. Make sure the things you estimate are as close as possible to what you are going to do.
  3. Project estimation is about being transparent. Trying to estimate full uncertainty is a deception. You choose whether you want to deceive your client or not. Being honest without looking unprofessional is an art, but that is what makes you successful in a long run.
  4. Almost never will you execute the project you are estimating due to inevitable and ubiquitous changes. Your estimate must support the execution of you future project that can have little to do with the one you think of when estimating.
  5. Project estimation is about probability. Make sure you understand the basics of probability theory and the cognitive biases related to probabilities.