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Categories >> Software >> Software Design >> Project Planning


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How to estimate the cost of projects ?
 Question Submitted By :: Ratan Basnet
I also faced this Question!!     Rank Answer Posted By  
  Re: How to estimate the cost of projects ?
# 1
There are various methods of estimates. Ex. Function point,
creating work break down structure and estimating for each
work packages in it.
There can be predefined/ready estimation tool with your
organization based on similar project learning experience.
Using such methods cost for each deliverable/mile stone can
be estimated. Overall estimation for each mile stone is cost
budget for your project.
Is This Answer Correct ?    7 Yes 2 No
  Re: How to estimate the cost of projects ?
# 2
First we need to check clients requirement. How he need it?
When he needs it? Whether he needs it in low budget or In a
high budget? One thing we have to keep in mind that, the
Quality Control need to be maintained as much as possible.
If we give clients a good service, they will prefer to give
more projects. We should not expect more profit and giving
him a bad service/quality. Keep a reasonable margin and
give "THE BEST SERVICE" from your end.

Is This Answer Correct ?    4 Yes 3 No
C. Nagaraju
  Re: How to estimate the cost of projects ?
# 3
1. Create the WBS of the project.
2. Assign TeamMember for each Task
3. Prepare the schedule of the Project.
4. Calculate the Effort based on the schedule & Number of
Team members

For example:

Project Shedule is 2 Month with 2 Team Member( Considering
8 Hrs per day)

That Means Effort is 4 Manmonths

Assume that Per Hour cost is 20$
One day cost per resource is 8 * 20 = 160$
One day Cost for two resources are 165*2 = 320$

Number of Working days in one Month is 22 days.
Number of Working days in 2 Months are 2* 22 = 44 days.

Add 4 Hours of Project Management that means Number of
days for project Management is 22 Days.

Total Number of days = 44+22 = 66 days

The Total Poroject Cost = 66 *320$ = 21120$

( Note: I have Assumed cost per hour is 20$ for Project
Management Also. This cost may be diferent

I have Considered this Project executed @ offOsore
Onsite Cost will be more.

If the project is executed in ofshore/Onsite model , cost
will be diferent)

Is This Answer Correct ?    4 Yes 2 No
Svs Gopinath

Other Project Planning Interview Questions
  Question Asked @ Answers
About current project architecture ? Microsoft 2
How do you know what you need to deliver or do in your project?   2
You have 3 jars. Each jar has a label on it: white, black, or white&black. You have 3 sets of marbles: white, black, and white&black. One set is stored in one jar. The labels on the jars are guaranteed to be incorrect (i.e. white will not contain white). Which jar would you choose from to give you the best chances of identifying the which set of marbles in is in which jar? Microsoft 12
what are all the test scenarios for login passwords?(user authentication) Infosys 7
How do you assign tasks to your team members?   4
What are the different phases in Software life cycle   6
How to estimate the cost of projects ? Voltas 3
What is DLL HELL?   1
Assignment A software house got a project to automate sales/purchase department of a furniture store. The store management is clearly transferred their requirements to the software house management. There is no chance of changing the requirements afterwards. Software house management use waterfall process model to make the project. Given is the progress flow of water-fall process model In waterfall process model, the deliverable (document) produced in one phase serves as an input to the next phase. Suppose you are a project manager who is leading this project. It is decided to work and complete the project using waterfall process model approach. You are required to develop a plan in which the key task is to decide the deliverable that should be built during and after completion of each phase. Also give a description or required contents that must be included in those deliverables. You are not supposed to make the complete project. All you are required to do is to make a Project plan. In that, you need to give a set of deliverables (documents) which according to you, should be developed in each of the phase (Requirements, Designing, implementation, Testing, Maintenance). Also provide contents which should be there in each deliverable. The contents should be clear and have brief explanation. Note:: There are one folder and one file in the attached folder. The file is named as Assignment 4 write-up which is your assignment write-up. The other folder named Project deliverables is the folder in which you are required to organize and place your deliverables. Name of the document/deliverable saved in each folder should be mentioned in the file named checklist (This file is placed in the “Project deliverables” folder) For Example If you produce a deliverable named Requirement Specification (RS) in the “Requirements” phase. You need to do following tasks 1) Finalize the RS contents 2) Save the file in sub-folder named Requirements 3) Write the name of this document in the checklist file under the heading Requirements. Similarly, you need to make and save deliverables of each phase. Not all phases contain one deliverable. There must be some phases having more than one deliverables. PLEASE SIR PRIVIDE ME THE CHECK LIST FOR GIVE SENERION ? CHECKLIST ARE: 1-Requirements 2- Designing 3- Implementation 4- Testing 5- Maintenance   1
How do you ensure that you and all the other team members in your project have the required technical skills to execute the project?   1
WHat is software life cycle ? How much time is spent usually in each phases and why ?   2
How do you perform impact analysis ? Microsoft 7
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