How to Create a Cost Estimation Sheet in Excel

Step 1 – Prepare Your Dataset:

• Begin with 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.

Step2 – Create the Base Excel Data Sheet:

• Start by creating 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.

• Similarly, in cell E15, use 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, type the following formula in cell J6:

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

• Finally, 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:

• Start by creating 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, use 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, use the formula:

Press Enter.

• In cell F9, type:

Press Enter and drag the Fill Handle to other cells.

• In cell F12, calculate the total labor cost:

Step 4 – Evaluate Total Material & Labor Cost:

• In cell F13, enter:

In cell F13, 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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