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GUIDANCE FOR APPLICANTSYour project costs for Smart applications July 2013GFA Your project costs for Smart applications V7Page 1Introduction This document is intended for use with your Smart Application
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How to fill out your project costs

01
Make a list of all the costs associated with your project. This can include materials, equipment, labor, and any other expenses.
02
Break down each cost into individual line items. For example, if you need to purchase materials, list each material separately with its corresponding cost.
03
Estimate the quantity or duration for each line item. This will help you calculate the total cost for each item.
04
Multiply the quantity or duration by the cost to calculate the subtotal for each line item.
05
Add up all the subtotals to get the total cost of your project.
06
Consider adding a contingency amount to account for unexpected expenses or cost overruns.
07
Review and validate your project costs to ensure they are accurate and realistic.
08
Document your project costs in a clear and organized format, such as a spreadsheet or cost estimation software.
09
Monitor and track your project costs regularly to stay within budget and make adjustments if necessary.

Who needs your project costs?

01
Anyone involved in project planning and budgeting can benefit from having project costs. This includes project managers, stakeholders, executives, and finance teams.
02
Project costs help in determining the financial feasibility of a project, making informed decisions, and managing resources effectively.
03
It is also useful for obtaining funding or approval for the project, as it provides a breakdown of the expenses involved and the potential return on investment.
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Our project costs are estimated to be $500,000.
The project manager is responsible for filing the project costs.
You can fill out the project costs by using the designated cost reporting template provided by the project management team.
The project costs are used to track expenses, monitor budget allocation, and ensure financial accountability.
The project costs must include detailed breakdown of expenses, cost categories, and any variances from the budget.
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