Free Simple Project Cost Plan Template
Simple Project Cost Plan
I. Project Budgeting
In the early stages of a project, it is crucial to establish a clear and simple budget. The Project Cost Plan serves as the foundation for understanding the financial scope of the project.
|
Cost Category |
Estimated Cost |
Responsible Party |
|---|---|---|
|
Labor |
$15,000 |
[YOUR COMPANY NAME] |
|
Materials |
$7,000 |
[YOUR COMPANY NAME] |
|
Equipment Rental |
$2,500 |
[YOUR COMPANY NAME] |
II. Resource Allocation
A Simple Project Cost Plan helps with determining how resources will be distributed throughout the project. This enables efficient management and ensures that the project remains within its budget.
|
Resource |
Quantity |
Cost |
|---|---|---|
|
Labor Hours |
500 hours |
$12,000 |
|
Materials |
500 units |
$5,000 |
III. Funding Requests or Approvals
Before proceeding, a Project Cost Plan is often needed to request approval or funding from stakeholders. This helps justify the financial needs and assures the funding parties of the project's viability.
|
Date |
Requested Amount |
Purpose |
|---|---|---|
|
January 15, 2050 |
$25,000 |
Initial project setup |
|
March 30, 2050 |
$10,000 |
Additional resources |
IV. Risk Management
Every project carries some financial risk. The Simple Project Cost Plan includes a contingency allocation to cover unexpected events and changes in costs.
|
Risk Type |
Contingency Amount |
Risk Impact |
|---|---|---|
|
Material Cost Increase |
$3,000 |
Moderate |
|
Labor Overruns |
$1,500 |
Low |
By managing risks with proper financial planning, the project team can adjust to changes and keep the project on track.
