What is a project estimation tool?
A project estimation tool is a software application or system designed to assist in the process of estimating the time, effort, and resources required to complete a specific project. It helps project managers, teams, and stakeholders determine the scope and feasibility of a project, make informed decisions, allocate resources effectively, and establish realistic timelines and budgets.
Bidwerx:
Framewerx’s Development team created a comprehensive and innovative estimation tool for project management and bid support internal web application. The features of this application include:
- Breakdown of material.
- Labour hours necessary for job completion.
- Required equipment.
- Expenses.
- Profit Margins.
The process of developing this estimation tool for project management involved interviews with the appropriate stakeholders, the creation of a scope document, a lean/agile methodology of development, and finally the delivery of the tool. The process also included the analysis of the current excel workbook solution that was used internally. The team then migrated to a web application interface that was more user friendly. This approach helps to ensure that the overall project budget is accurately projected, facilitating effective financial planning and control.
Read more about our other projects and applications here!
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