Resource and Cost Modelling

A resource and cost model can be used to forecast the total cost of resources and materials for a project, along with when those costs are expected to be realised (spent).

The technique is simple and involves listing the resources needed, their day rate, and the number of days required each week or month.

This can be compared to the actual time spent on the project at a later date and these ‘actuals’ imported into the worksheet. This will allow the Planned vs. Actuals chart to show any variance between the two.