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Free tool · Projects

Free project budget estimator

Know what the work could cost. Add your time and expenses, allow for uncertainty, and plan a budget you can explain.

  • Free, no account
  • Stays in your browser

Estimate your project

The breakdown updates as you plan. Example
1
Your projectKeep all costs in the same currency. Changing currency does not convert amounts.
2
Plan the workBreak the project into tasks or roles. Use internal cost rates, not the prices you charge clients.
3
Add other costsInclude materials, subcontractors, travel and one-off purchases. Do not count costs already included in your hourly rate.
4
Allow for the unknownOverhead is added to direct costs. Contingency is then applied to direct costs plus overhead.
Use 0 if your hourly costs already include all overhead.
A reserve for uncertainty, not profit. Adjust it to your project’s risks.
Compare the estimate with the amount available. Leave blank if no limit is set.

Example only: replace these work items, costs and allowances with your own.

Estimated project cost€3,630.00

This is a planning estimate based on your inputs, not a quote or a guaranteed final cost. Include non-recoverable taxes in your costs if they apply. Amounts are calculated before rounding.

What is a project budget estimate?

Updated · By the Skileo team

A project budget estimate is a forecast of the costs needed to deliver a defined scope of work. Start with the tasks and resources, estimate labour and direct expenses, then add overhead and a reserve for uncertainty. This tool totals those assumptions; it does not predict costs for you. The result helps you decide whether the planned work fits the money available before you agree to a deadline or price.

How the example project budget is calculated
ComponentCalculationExample
LabourSum of hours × internal hourly cost8 × €50 + 32 × €60 + 8 × €50 = €2,720
Direct costsLabour + other project costs€2,720 + €200 + €80 = €3,000
OverheadDirect costs × overhead percentage€3,000 × 10% = €300
Contingency(Direct costs + overhead) × contingency percentage€3,300 × 10% = €330
Estimated project costDirect costs + overhead + contingency€3,000 + €300 + €330 = €3,630
Projects

Estimate here. Manage the project in Skileo.

Turn the scope into tasks, keep files and comments with the work, and track time as the project moves forward. Your free-tool estimate is not automatically imported into Skileo.

List or boardPlan the work as a list, or drag tasks across a board.
A project per clientLink each project to its client, the same one you invoice.
TemplatesSave the project you run every time, and start the next one from it.

How to estimate a project budget

  1. 1Break down the scopeList the tasks or roles and estimate the hours each needs. Include preparation, meetings, review and handover, not just production time.
  2. 2Price the resourcesEnter the internal hourly cost for each work item, then add materials, subcontractors and other direct expenses. Use consistent cost assumptions and one currency.
  3. 3Add allowances and reviewSet overhead and contingency, compare the estimate with your budget limit, and copy the breakdown. Revisit the assumptions when the scope or resource costs change.

A practical project budgeting checklist

  1. Write down what is includedSpecify deliverables, the number of revisions and who provides the inputs. A website with five pages is a different project from one with fifty. Separate optional extras so they do not disappear inside a single estimate.
  2. Use costs consistentlyAn internal hourly cost is the cost of delivering an hour of work. A billable rate is what you charge. Mixing them can make the estimate look like both a cost plan and a sales price. If overhead is already included in your rate, do not add it again.
  3. Check the costs outside the task listConsider licences, equipment hire, materials, travel and external specialists. Enter the project’s share of a purchase rather than charging the whole annual bill to one small job. Include non-recoverable taxes where relevant.
  4. Tie the reserve to uncertaintyThe example uses 10% contingency to demonstrate the calculation; it is not a recommended rate. Unclear requirements, unfamiliar work or supplier uncertainty may need different allowances. A reserve does not replace a conversation about scope changes.
  5. Compare the plan with actual workKeep the original assumptions, review time and costs as delivery progresses, and update the forecast when new information arrives. An estimate is useful when it informs decisions, not only when it is approved at the start.

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Project budget estimator: common questions

Is this project budget estimator free?

Yes. You can estimate costs and copy the breakdown without creating an account. The calculations run in your browser and your draft stays on this device. Skileo is available separately if you want to manage projects and track time.

How is the project budget calculated?

Labour is the sum of hours multiplied by internal hourly cost for each work item. Add other expenses to get direct costs. Overhead is a percentage of direct costs, and contingency is a percentage of direct costs plus overhead. The total is direct costs, overhead and contingency combined.

Is the estimated budget the price I should charge?

No. This is a cost estimate, excluding profit and sales tax. To set a selling price, consider your target margin, scope, market and commercial terms. Use the pricing and margin calculator as a separate next step, then prepare a quote.

How much contingency should I add?

There is no single percentage that suits every project. Consider uncertainty in the scope, time estimates, suppliers and dependencies. The example’s 10% is illustrative only. Choose an allowance based on your own risks and revise it when you know more.

What is the difference between overhead and contingency?

Overhead covers a share of indirect costs, such as administration or shared software. Contingency is a reserve for uncertain costs within the planned work. Do not add overhead twice if your hourly costs already include it.

Does the estimate include VAT or currency conversion?

The result is before VAT or sales tax added to a client’s bill. Include any non-recoverable taxes in your input costs where appropriate. Currency selection changes the display only; it does not convert amounts. Use the same currency throughout.

Can I save or share my project estimate?

Your draft is saved in this browser on this device when local storage is available. Use Copy budget breakdown to paste the estimate into your own document or message. It is not synced to other devices or automatically transferred into a Skileo project.

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