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 in large datasets to generate simple excel workbooks for **estimating project costs.** Throughout this tutorial, you will also learn some important excel tools and functions which will be very useful in any excel related task.

**Table of Contents**hide

## Download Practice Workbook

You can download the practice workbook from here.

## Step-by-Step Procedures to Make Cost Estimation Sheet in Excel

We have taken a concise dataset to explain the steps clearly. The dataset has approximately **11 **rows and **6 **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** **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 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**.

### 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**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 Perform Building Estimation and Costing in Excel Sheet**

## 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 Calculate Residential Construction Cost Estimator in Excel**

## 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, to learn more **excel** techniques, follow our **ExcelDemy** website. If you have any queries, please let me know in the comments.