Question: What does a project cost sheet for an interior design project look like when including contingencies? If it helps, below is the project cost element

What does a project cost sheet for an interior design project look like when including contingencies?

If it helps, below is the project cost element tables including the associated 3-point estimates, mean, and variances.

Cost element

Optimistic Cost

Most likely Cost

Pessimistic Cost

Mean

Standard Deviation

Variance

Material Cost

60

80

100

=(60+80+100)/3=80

=square root of (((60-80)^2)+((80-80)^2)+((100-80)^2))/2

=20

=20^2=400

Overhead Cost

50

60

94

=(50+60+94)/3=68

= square root of (((50-68)^2)+((60-68)^2)+((94-68)^2))/2

=23.065

=23.065^2=531.994

Labor Cost

80

120

140

=(80+120+140)/3=113.33

=square root of (((80-113.33)^2)+((120-113.33)^2)+((140-113.33)^2))/2

=30.55

=30.55^2=933.3025

Rental Cost

70

110

130

=(70+110+130)/3=103.33

=square root of (((70-103.33)^2)+((110-103.33)^2)+((130-103.33)^2))/2

=30.55

=30.55^2=933.3025

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