How to Create a Cost Estimation Sheet in Excel

Step 1 – Prepare Your Dataset

• Create a concise dataset containing approximately 11 rows and 6 columns.
• Keep all cells in the General format and use the Accounting format for monetary values.
• The dataset should have 6 unique columns: Project Stages, Estimated Hours, Developers, Analyst, Other Costs, and Total Cost. You can adjust the number of columns as needed.

Step 2 – Create the Base Excel Data Sheet

• Create an empty dataset, similar to the one shown in the image below.

Step 3 – Insert Necessary Data Values

• Populate the Estimated Hours, Developers, Analyst, Other Costs, and Total Cost columns with the relevant values.

• In cell D15, enter the following formula:

• Press Enter to calculate the total Estimated Hours using the SUM function.

• In cell E15, enter this formula:

• Press Enter.

• Repeat the process for cell G15.

Read More: How to Calculate Residential Construction Cost Estimator in Excel

Step 4 – Calculate the Total Cost

• In cell I15, insert the formula:

• Confirm by pressing Enter.

• For the cost calculation, enter the following formula in cell J6:

• Press Enter and copy this formula down using the Fill Handle.

• In cell J15, enter:

• Press Enter to find the final total cost.

Read More: How to Make an Effort Estimation Sheet in Excel 

Create a Cost Estimation Sheet for Building Construction in Excel

Step 1 – Prepare Your Dataset

• Create a basic dataset with the following columns: Particular, Quantity, Rate, and Amount. Refer to the image below for reference.

Step 2 – Calculate Total Amount

• In cell E5, enter the formula:

• Press Enter and copy this formula down to cell E9.

• In cell E10, enter the formula:

• Press Enter.

Step 3 – Create a Bill of Quantity Dataset

• Set up a Bill of Quantity dataset (similar to the image provided).

• In cell F5, insert the formula:

• Press Enter and copy it to cell F7 using the Fill Handle.

• In cell F8, enter the formula:

• Press Enter.

• In cell F9, enter:

• Press Enter and drag the Fill Handle to other cells.

• In cell F12, calculate the total labor cost:

• Press Enter.

Step 4 – Evaluate Total Material & Labor Cost

• In cell F13, enter:

• Press Enter.

Step 5 – Create a Summary Data Table

• Set up a simple summary data table (similar to the image provided).

• In cell C5, reference the labor cost from the Bill of Quantity sheet:

• Press Enter.

• In cell C6, get the labor cost value:

• Press Enter.

• In cell C8, calculate the grand total:

• Press Enter.

By following these steps, you can quickly create a cost estimation sheet for building construction or similar projects in Excel.

Read More: How to Make House Estimate Format in Excel

Download Practice Workbook

You can download the practice workbook from here:

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