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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
How do you assign tasks to your team members?   4
What procedures do you follow to arrive at the project schedule?   2
Where and how are the risks associated with your project identified and documented?   2
How will gather requirements and where do you record. Is it in word / Excel or do you have any tool for that ? Microsoft 3
How do you report the status of your project?   2
What are the different phases of SDLC ? Microsoft 94
How would you deal with changes being made a week or so before the ship date? Microsoft 1
How do speedup the project delivery without affecting the cost? emc2 6
How do you know what you need to deliver or do in your project?   2
How do you track the size or changes to size of the work products in your project?   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
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
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