Project Estimates Overview

Location:

To edit Project Estimate details, click the Project Estimates link within the projects list Project Management menu.

Access Right:

To view or edit project estimate details you need the access right: Edit Project Estimates.

To approve the estimate you will need the access right: Approve Project Estimates.

To allocate named resources you will need the access right: Allocate Named Resources.

To allocate un-named resources you will need the access right: Allocate Unnamed Resources.

Purpose

The purpose of the project estimating screen is to create a quote to bid for new prospective work.

Pre-Requisites

The first stage is to create a new project and task structure to mimic the work you wish to carry out. This is accomplished in the normal manner using the project and task creations process available within Timemaster.

Operation

Having created a project and task structure you can begin estimating against each of the project tasks. Below is a completed estimate for an example architectural project split into various project stages.

With reference to the above a breakdown of the main parts of this screen are given below.

Top Panel

Project State

Click here to navigate to the Edit Project Fee Bid Details screen. From within here you can mark the project as speculative and assign a percentage to the probability of the work going ahead.

Revision

Changing this will refresh the grids to show a previous version of the estimated quote.

Note: This shows the current revision and any historic approved estimates.

A variety of export options are available from the drop down select the format you wish to export in and click the disk icon to export the details.

Note: The export will include the above 2 grids and also an additional grid of details see the Project Estimating Export Report section for an example of this exported report.

Estimated Fees

	Click this icon to navigate to the Project Estimating Assign Resources page to assign / alter resources and estimated hours enter against this task.
Task	The task code for the project task.
Name	Name of the project task stage.
Chrg. Type	The task charge type;- ▪T/C = Time charged ▪Fee = Fixed Fee ▪None = Non Chargeable
Est. Days / Est. Hours	The estimated time to complete each stage of the project. This will be either in hours or days. This is a sum of the estimated hours allocated against each resource making up the estimate for this stage.
Cost	The estimated cost of the allocated resources making up the estimated hours for each project stage.
Fee	The expected fee income of the allocated resources for this task.
Estimated Cost	The estimated expense cost for this task stage = Cost x Services.Percentage Allowance For Expenses.
Other Expenses	This is an additional expense cost over and above the Estimated Cost for expense for this task. Example an additional cost could be for Equipment Hire. Click on the expense figure itself or the icon to the right to enter an additional expense.
Sub Total	Calculated fee income = Fee + Estimated Cost + Other Expenses.
Link Values	Indicates if the Quote value tracks the Sub Total. Clicking the icon will toggle between the following options;- Quote and Subtotal are linked together. Changes in the sub total will be reflected in the final quote figure. Quote and subtotal are no longer linked together. Changes in the estimate for this stage will not be reflected in the quoted figure. Note: A red line denotes that the quoted value is less than (discounted) from the calculated subtotal.
Quote	The final quoted value to the client for this task stage.
Update Client Fee	If checked when the quote is approved this will update the client fee values on the task.
Previous Quote	Shows the previously quoted value for each task stage so that you can compare the current quote against the last approved quote.

Services

	Click this icon to navigate to the Edit Service Fee screen. Within this screen you can enter an allowance as a percentage for anticipated expense incurred related to cost. Eg. 5% = Add an additional 5% of the cost to account for related expenses.
Code	The code for this project service.
Service	Name of the project service.
Percentage Allowance For Expenses	The allowance made to cover expense against this service.