How do I calculate direct costs for my project?

How do I calculate direct costs for my project?

Direct costs are expenses that can be directly attributed to a specific project. This includes materials, labor, and any other costs that are directly tied to the project.

Can you give me an example of direct costs?

Sure! For a construction project, direct costs would include the cost of building materials, wages for workers, and equipment rentals.

What about indirect costs? How do they differ?

Indirect costs are expenses that are not directly tied to a specific project, like administrative salaries or utilities. They support multiple projects.

How can I estimate these costs accurately?

To estimate direct costs accurately, gather quotes for materials, calculate labor hours needed, and consider any additional expenses specific to the project.