Estimating Costs and Allocating Resources: Helpful Resources

estimating cost

One resource that I found very helpful is the MS Project software that could be used to easily enter each task, its duration and the associated resources for any project. This Project management software enables Project Team Members to manage tasks, collaborate, and submit time sheets, and flag issues and risks. It makes project management easy and engaging for Project Managers, by enabling them to analyze resources, budgets and timelines. Also, Project managers can easily measure progress and anticipate resource needs with detailed and easily customizable out-of-the box reports (project pro).

The MS project program has many helpful website such as the one found an This site provides tips and tricks that could help when creating a project schedule. If I can use it, then that says it all. The fact is MS project comes with a hefty fee, but there are many free tools out there that could be used to estimate costs and durations; this article found at management-tracking-templates/ provides information on free alternatives to MS project like using Excel sheets to develop cost estimates. The author suggests the use of the templates in Excel which is available through MS Office and is commonly used on various computers.

I also found a good project management website called Bright Hub. It outlines the project management process and defines the 8 steps in the project management process to include diagrams and charts. The site explains the critical path method and Gantt charts. They really do a good job breaking down the various charting methods used a project process. The Bright Hub website offers a wealth of knowledge and links for a budget template. The site host full project page, a monthly page, and a task project budget page. The templates appear to be basic and easy to use. They also give a link that discusses the goal of a project budget, what should be included, and an example of a project management budget.  This information gives a very good overview and a baseline of where to get started which I think will benefit any newcomer to project management (Bright Hub)


Project Pro for Office 365. Retrieved from

Brighthub PM. Retrieved from

Brown, S. (2011). Examples of a project management budget. Retrieved February 3, 2011, from

Levine, R. (2010). Use our excel project template to simplify your life. Retrieved February 2, 2011, from

Rosenhead, R. (2010). Project Management. Retrieved February 3, 2011, from



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1 Response to Estimating Costs and Allocating Resources: Helpful Resources

  1. dlc420 says:

    I like MS Project, but it’s hard to justify paying for their program when there are so many free resources available. In preparing for this week’s project I was searching for tools to create a Gantt Chart and adapt to the Case Study. MS Project was part of my search, but I found some simple excel sheets already formulated. It’s nice not to have to begin from ground zero. Excel spreadsheets are very useful for many different tasks and can be very basic or complicated depending on the job or the user’s ability.

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