A time estimate worksheet is a tool that can be used to compare time spent to-date on a project compared with original time estimates.
A time estimate worksheet can be used before a project is undertaken to break down the project into sub-tasks with a time estimate for each sub-task, in order to give an estimate of the total estimated cost in terms of time and money. Once finalized as the agreed plan, the same time estimate worksheet can be used on a regular basis to measure progress to date, timewise and moneywise, against the original estimates.
Time estimate worksheets are often used in professional service types of projects in which most billing is done by the hour. They are a good way to make sure that billing for professional services does not get out of control; something that happens often with these types of projects.
The time estimate worksheet below is one that was prepared for an actual project that involved the provision of professional consulting services. It contains the key info elements that would normally be included when drafting a time estimate worksheet.
Time Estimate Worksheet – Sample