Question

Suppose you were asked to prepare a cost estimate for a project to purchase laptops for all faculty and staff at Great community college. How would you start? How long would it take you to prepare a good estimate? What type of estimate would you prepare, and what approach would you use to develop a cost estimate?

Answer 1

Cost estimates xan be prepared by starting with surveys from technical teams and production teams and referring through industry wide articles about cost projections for different configuration.

A good cost estimate requires 3-5months generally dependibg upon complexity faced and versatility of product depth and width.

Cost estimate should be on forecasted basis taking intp account current inflation and must first divide entire project into units of work. Secondly cost per unit should be drafted firsf and then multiplied by total production units to get estimated costs. One must weigh all fixed amd variable costs and adopt economies of scale to minimise costs.