Cost Section of Proposal Notes: Definitions & Explanations PDF | Download eBooks
Study Cost Section of Proposal lecture notes PDF with project management definitions and explanation to study What is Cost Section of a Proposal?. Study cost section of proposal explanation with project management terms to review project management course for online MBA programs.
Cost Section of Proposal Definition:
Cost section of a proposal convinces the customer that the contractor's price for the proposed project is realistic and reasonable.
Successful Project Management by Jack Gido and James P. Clements
Cost Section of Proposal Notes:
A customer requests the contractors for proposals for a particular project. This proposal from a contractor normally has three sections. One of them is cost section. The cost section of a proposal includes all the cost related estimates that aid in convincing the customer that the estimations are realistic. Sometimes the customers are interested in the total cost of the project but usually the cost of each individual item of the project is desired by the customer i.e. the breakdown of the costs in relation to the activities. The elements that are included in the cost section of the proposal are Labor cost, material cost, subcontractors/consultants fee, equipment cost, travel expenditure, documentation cost, overhead, costs associated with the escalation of the project, contingency and profit.
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