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


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How to estimate the cost of projects ?
 Question Submitted By :: Project-Planning
I also faced this Question!!     Answer Posted By  
# 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 3 No
# 2
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
# 3
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

Other Project Planning Interview Questions
  Question Asked @ Answers
Write the test cases for a vending machine? Microsoft 1
can any body help me to know the procedure followed by programmer/developer inorder to develop a project. what are the steps, how he/she get the SRS,technical document??how does he submit his wotk to TL/PM/Business Analyst?? How does these documents review?? how the developer starts coding? how does he deploy his coding in server? in which server he will deploy?? what are the important document a developer should have??? Pls give me a real time scenario of development process, how it is going on in a company???? Thanks in advance   1
What are the different phases in Software life cycle   6
What is DLL HELL?   1
What are the different phases of SDLC ? Microsoft 94
How do you assign tasks to your team members?   4
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 the document that should be consulted to know about your project, the activities you do, your schedules and milestones?   7
How do you handle change requests ? Microsoft 4
When do revise your project plan? When do you know you have to revise your project plan? Where is the plan revision frequency documented? Satyam 3
About current project architecture ? Microsoft 2
Write the InStr function. Write the test cases for this function? Microsoft 2
For more Project Planning Interview Questions Click Here 

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