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Your comprehensive guide on how to calculate project costs

Your comprehensive guide on how to calculate project costs

Date: 2023/04/02


Table Of Contents

1- Introduction:

A project is defined as an action taken by a person to implement a specific idea, whether it is a product or a service, and the project uses significant resources to implement this idea; For example, financial resources, knowledge and personnel. The project also includes a service; That is, it solves a social problem in exchange for a material good, so it is necessary to know  how to calculate the costs of the project.   Examples of service projects include providing transportation to areas where residents need this service, and there are many examples of productive projects, including a bakery that delivers bread to a group of beneficiaries, and there are many Ideas and projects for the benefit of individuals and society if they have value or whether they represent service needs or economic benefits to individuals and society.

A project is an activity that uses specific resources and spends money to achieve benefits in an agreed upon period of time. It is therefore necessary to study how project costs are calculated  because it is a continuation of an activity that begins with an interesting question. The small project will have a legal personality, which is a tax card, commercial registry and license. A project is a spontaneous activity to achieve a goal and takes place in an ordinary social environment. A project is an intended activity related to life. A project is a time-bound activity undertaken to provide a product or service to achieve the intended change.

SMD Decoration  provides   the best projects according to creative and aesthetic services and shows  you, dear reader, how to calculate project costs     according to the following  

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2- Comprehensive understanding of  how to calculate project costs   . 


A project can be defined as a work that is done over a period of time to implement a specific idea and achieve a specific goal represented in a specific product or service, and there are many types of projects, including: by one person or by a few people and medium-sized projects that employ a larger number of people while Large projects are those that employ a large number of people and rely on large capital. For the success of each project, they have to go through several stages. 

 To watch a video of how to calculate project costs,   click here 

To understand  how to calculate project costs   as the project goes through several stages, the most important of which is    


The project identification phase of the project 

 At this stage the project idea is created and developed; Because a design idea often arises from a general need and it is normal to come across many ideas that are filtered in order to get to the good ones that are easy to implement in practice.


Project preparation stage

 At this stage, the general framework of the project is set, and here we come to the so-called feasibility study, which in turn is divided into: market study and marketing study. Technical examination. Study the administrative and organizational structure. Income or financial study.


Project implementation phase 

At this stage, the project is implemented, monitored, and what has been implemented is recorded. 


Project evaluation stage.

 During implementation, the project is evaluated to compare the current situation with the progress of the project. After implementation, an evaluation will also be carried out to compare the final results and the degree to which these results have been achieved for the project.

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And because SMD Decoration   is the most distinguished company  in the art of implementing projects  , it shows you, dear reader, how to calculate project costs.   Let's go…. 



3- The important basics of how to calculate project costs       .

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The definition of a project varies by region and objective. In general, a project can be defined as a time-bound process or activity that is undertaken once to provide a specific product or service to achieve positive change or added value. The project uses important resources such as money, knowledge, and people to achieve a goal, i.e. the project requires planning, organization, and coordination between the concerned parties. The objective of the project is the desired result of its implementation, which determines the success or failure of the project. The goal should be clear, specific, measurable, logical, achievable, and time-bound. 

SMD Decoration knows how to calculate project costs  as follows 

Ascending estimate

In this method, the lowest expenses are estimated first, then the highest expenses until all levels of expenses are estimated, and then all expenses are accumulated to arrive at the estimated total cost of the project.

Descending rating

This method estimates the highest project level used to estimate historical data for a similar project from current or previous projects and this method is referred to as the analogy method.

Initial one-time costs 

You purchase everything you need to create a project and it consists of two parts: Component Cost: Includes what must be purchased initially and cannot be sold from the total cost of the project and Components: fees, licenses, and consulting.

Cost of investment/capital: represents anything that must be bought and can be sold in the future, such as furniture, real estate, machinery, vehicles, equipment, and consumables.

Construction costs can be easily and accurately determined and forecasted. Let's say it's for a project

This method is characterized by low costs and speed, but it has some drawbacks, such as inaccurate cost estimates.

Recurring monthly costs

It is divided into two parts:

1- Fixed costs

It covers the total monthly expenses of the project from rent, salaries and subscriptions, and it can be determined accurately and easily

2 - Variable costs cover amount

A set of expenses incurred during the sale or production and is represented by commissions on the sale and purchase of raw materials and daily personnel. Since they can be paid for with the same sale amount, they are not included in our cost calculations. The cost can be variable 

SMD Decoration is trying to follow the previous policies and additional conditions set by the customer and apply them in all stages of interior decoration in order to satisfy him and obtain his confidence and maintain its worth and strength in the labor market with its good reputation in interior decoration.



4- How to calculate project costs   and services provided by SMD Decoration   .

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When studying how to calculate project costs,  SMD Decoration recommends the following: an accurate feasibility study. Having experience with the project by the owner 

 Choose those who have sufficient experience and are commensurate with the nature of the project. 

Provide financing sources and reduce project costs. 

Adoption of advertising and promotion of products.

A correct estimate of the project area and place of residence.

 Choose an appropriate management. Focus on profits with product quality.

SMD Decoration is   the best distinguished company, so that when you receive a specific project, you follow it up, starting from setting the plan in terms of small details, all the way to final finishes, and SMD Decoration uses the best cadres of designers, architects, decorators, and artists as well, to give Distinctive and impressive results for its clients, and it follows up all global developments in the field of interior decoration and design in order to remain a leader in the field of design, proactive with hundreds of steps. Through the distinguished SMD Decoration services that we offer you, we put our own mark in any field by focusing on simple details to give great results, such as thinking about consistency between the surrounding environment and external design. To contact customer service, click  here 


We would like to point out that SMD Decoration   for interior design and decoration in Turkey does not use bitcoins or digital currencies in its business dealings, but rather charges its fees through paper currencies or bank transfers.