In this tutorial, I am going to show you the step-by-step procedures to make a cost estimation sheet in Excel. You can quickly use these methods, even with large datasets, to generate simple Excel workbooks for estimating project costs. Throughout this tutorial, you will also learn some important Excel tools and functions that will be very useful in any Excel-related task.

## How to Make Cost Estimation Sheet in Excel: with Easy Steps

We have taken a concise dataset to explain the steps clearly. The dataset has approximately **11Â **rows and **6Â **columns. Initially, we are keeping all the cells in **General **format and the monetary values in **Accounting **format. For all the datasets, we have 6**Â **unique columns which are **Project Stages**,** Estimated Hours**,** Developers**,** Analyst**, **Other Costs**, and** Total Cost**. However, we may vary the number of columns later on if that is needed.

### Step-1: Creating Base Excel Data Sheet for Cost Estimation

- First, create a starting empty dataset, as shown in the image below.

### Step-2: Inserting Necessary Data Values

- To begin with, insert the necessary values for the
**Estimated Hours**,**Developers**,**Analyst**,**Other Costs**, and**Total Cost**columns properly.

- Next, go to cell
**D15**and type in the following formula:

`=SUM(D6:D14)`

- Then, press
**Enter**to get the total Estimated Hours value using**the SUM function**in Excel.

- Now, navigate to cell
**E15**and enter the formula below:

`=SUM(E6:E14)`

- Then, press
**Enter**and similarly type this formula in cell**G15**.

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

### Step-3: Calculating Total Cost

- To start with, go to cell
**I15**and insert this formula:

`=SUM(I6:I14)`

- After that, press the
**Enter**key to confirm this formula.

- Now, type in the following formula in cell
**J6**:

`=(D6*E6*F6)+(D6*G6*H6)`

- Then, press
**Enter**and copy this formula down using the**Fill Handle**.

- Next, navigate to cell
**J15**and type the following formula:

`=SUM(J6:J14)`

- Finally, press the
**Enter**key and this will find out the final total cost.

So by following the above steps, we can easily create a detailed cost estimation sheet in Excel.

**Read More: **How to Make an Effort Estimation Sheet in ExcelÂ

## Creating Cost Estimation Sheet for Building Construction in Excel

Now, we will see how we can quickly generate a **cost estimation sheet **for a building construction project.

**Steps:**

- To begin with, create a basic dataset including the columns
**Particular**,**Quantity**,**Rate**, and**Amount**as in the image below.

- Next, go to cell
**E5**and type in the formula below:

`=C5*D5`

- Now, press
**Enter**and copy this formula down to cell**E9**.

- After that insert the following formula in cell
**E10**and press**Enter**:

`=SUM(E5:E9)`

- Now, create a
**Bill of Quantity**dataset as in the image below.

- Then, go to cell
**F5**and insert the following formula:

`=D5*E5`

- Next, press
**Enter**to confirm and copy this formula to cell**F7**using**Fill Handle**.

- Then, enter the formula below in cell
**F8**and press**Enter**to confirm:

`=SUM(F5:F7)`

- After that, go to cell
**F9**and type in the following formula:

`=D9*E9`

- Now, press
**Enter**to confirm this formula and take this formula to the other cells by dragging the**Fill Handle**.

- Now, go to cell
**F12 and**insert the below formula:

`=SUM(F9:F11)`

- Immediately, you should get the value of the
**Total Labor Cost**.

- Then, type in the following formula in cell
**F13**:

`=F8+F12`

- Now, press the
**Enter**key on the keyboard and this should evaluate the**Total Material & Labor Cost**.

- Next, create a simple
**Summary**data table as in the image below.

- Now, go to cell
**C5**and insert the following formula:

`='Bill of Quantity'!F8`

- Then, confirm this formula by pressing
**Enter**key on the keyboard.

- After that, write the formula below in cell
**C6**:

`='Bill of Quantity'!F12`

- Now, press
**Enter**again to confirm this formula and get the**Labor Cost**value in cell**C6**.

- Next, insert this last formula in cell
**C8**:

`=SUM(C5:C7)`

- Finally, press
**Enter**to get the final**Grand Total**value of the project.

So, in this way, we can quickly create a **cost estimation sheet** for building construction or similar projects.

**Read More:** How to Make House Estimate Format in Excel

**Download Practice Workbook**

You can download the practice workbook here.

## Conclusion

I hope that you were able to apply the methods that I showed in this tutorial on how to make a cost estimation sheet in Excel. As you can see, there are quite a few ways to achieve this. So wisely choose the method that suits your situation best. If you get stuck in any of the steps, I recommend going through them a few times to clear up any confusion. Lastly, If you have any queries, please let me know in the comments.

## Related Articles

- How to Do Interior Estimation in Excel
- How to Create Estimation Tool in Excel
- How to Create a Project Time Estimation Sheet in Excel
- Project Cost Estimation Example in Excel
- How to Perform Building Estimation and Costing in Excel Sheet

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