How do estimating costs for a project apply to real life?

Learning Goal: I’m working on a management question and need support to help me learn.

The activity will be based off:

Cost Management-

How do estimating costs for a project apply to real life?

Activity: Consider a project you have been involved with and an estimating technique was used to provide the numbers for a conceptual plan. Briefly describe the type of project in 300 words or more and identify the estimating method used. Attach an excel document breaking down your project budget

Remember, a project is a series of tasks that need to be completed to reach a specific outcome. A project can also be defined as a set of inputs and outputs required to achieve a particular goal. Projects can range from simple to complex and can be managed by one person or a hundred. Your project could be moving into a new apartment or house, creating a budget for college, or creating a budget for finding a job. Options are endless.

There are two components for maximum points

• Detailed description of the project and the estimating technique used in a written form. This is at least 300 words
• Create a project budget using excel or another template to demonstrate the specific line items of your budget

The two documents should align and tell a story of your budget