Project Cost Calculator
Build a total project cost from labour, materials, travel, overhead and contingency.
In short
Build a total project cost from labour, materials, travel, overhead and contingency.
Formula: Direct cost = Labour + Materials + Software + Travel + Subcontractors; Cost base = Direct cost × (1 + Overhead rate); Total = Cost base × (1 + Contingency rate)
What this calculator does
Every component is entered by the user and optional components left at zero are excluded from the total. Overhead and contingency are the firm's own rates; none is supplied.
Use it to turn Currency, Labour cost, Materials (optional), Software and tools (optional), and the other shown inputs into a checked result you can compare, copy, or rerun with different assumptions.
The page shows the formula, a numeric worked example, and the assumptions that affect this professional & industry calculation.
Inputs and what they mean
- Currency
- — Amounts are shown in the currency you pick. No exchange rate is applied..
- Labour cost
- — number value.
- Materials (optional)
- — Optional component. Leave at 0 to exclude it from the result..
- Software and tools (optional)
- — Optional component. Leave at 0 to exclude it from the result..
- Travel (optional)
- — Optional component. Leave at 0 to exclude it from the result..
- Subcontractors (optional)
- — Optional component. Leave at 0 to exclude it from the result..
- Overhead applied to direct cost (optional)
- — Optional component. Leave at 0 to exclude it from the result..
- Contingency reserve (optional)
- — Optional. Leave at 0 for no reserve..
How to use it
- Enter your own figures — the calculator never fills in a rate, price or benchmark for you.
- Press Calculate to see the result.
- Read the formula, variables, assumptions and source below the result before you rely on it.
Formula
Direct cost = Labour + Materials + Software + Travel + Subcontractors; Cost base = Direct cost × (1 + Overhead rate); Total = Cost base × (1 + Contingency rate).
Inputs used: Currency, Labour cost, Materials (optional), Software and tools (optional), Travel (optional), Subcontractors (optional), Overhead applied to direct cost (optional), Contingency reserve (optional).
Edge handling: Labour cost is required.; Labour cost cannot be negative.; Labour cost must be no more than 1000000000000.; Materials (optional) is required.; Materials (optional) cannot be negative..
Worked example
Delivery with materials, travel and a contingency reserve
- Start with Currency: USD, Labour cost: 45000, Materials (optional): 6000, Software and tools (optional): 2400, Travel (optional): 3000, Subcontractors (optional): 0.
- Apply the method: Direct cost = Labour + Materials + Software + Travel + Subcontractors; Cost base = Direct cost × (1 + Overhead rate); Total = Cost base × (1 + Contingency rate).
- Optional components left at zero are excluded, not guessed.
Reading the result
The headline figure is the main answer. Any breakdown underneath shows the parts that make it up, so you can check the working and see what changes when you adjust an input.
Limitations and assumptions
- Inputs outside the supported range are rejected rather than forced into a result.
- The result depends on the values you enter for this project cost calculator; it does not supply missing rates, rules, prices, dates, or assumptions for you.
Reference: Project Management Institute — Earned value management — PMI practice guidance
Last reviewed:
Common questions
Where does this formula come from?
PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) — Estimate Costs and Determine Budget: activity costs are aggregated and a contingency reserve is added for identified risk. See the source link on this page.
What kind of calculation is this?
Costs are aggregated, an overhead rate is applied to direct cost, and a contingency reserve is added to the cost base. Check the formula, example, and limitations on this page before using the result for a real professional & industry decision.
What are its limits?
Gives a cost, not a price; profit is added in the quoting calculators. Check the formula, example, and limitations on this page before using the result for a real professional & industry decision.
How do I use the Project Cost Calculator?
Enter the required values for Currency, Labour cost, Materials (optional), Software and tools (optional), Travel (optional), and the other fields shown. The calculator applies the formula on this page and shows the main result with any supporting breakdown so you can check the arithmetic.
What formula does the Project Cost Calculator use?
Direct cost = Labour + Materials + Software + Travel + Subcontractors; Cost base = Direct cost × (1 + Overhead rate); Total = Cost base × (1 + Contingency rate) The visible formula section above lists the calculation path and the edge cases the page handles, so the result can be checked without relying on the form alone. Check the formula, example, and limitations on this page before using the result for a real professional & industry decision.
Can the Project Cost Calculator be used for exact decisions?
Use it as a calculation aid, not as a substitute for checking the underlying rule, contract, policy, or professional advice that applies to your situation. When a result depends on local rules, personal details, prices, or dates, enter those values yourself and confirm them before acting.
Formula, source and verification
Costs are aggregated, an overhead rate is applied to direct cost, and a contingency reserve is added to the cost base.
The question it answers: What is the total cost of this project once overhead and a contingency reserve are included?
The formula
Direct cost = Labour + Materials + Software + Travel + Subcontractors; Cost base = Direct cost × (1 + Overhead rate); Total = Cost base × (1 + Contingency rate)
- L — Labour cost
- (currency). Direct labour on the project.
- M — Materials
- (currency). Optional direct materials.
- S — Software and tools
- (currency). Optional licences and tools bought for the project.
- T — Travel
- (currency). Optional travel cost.
- C — Subcontractors
- (currency). Optional subcontracted work.
- o — Overhead rate
- (%). Overhead applied to direct cost, using the firm's own allocation.
- g — Contingency rate
- (%). Reserve for identified risk, chosen by the project.
Units: Currency; percentages.
What kind of calculation this is
Deterministic formula. The same inputs always give the same answer. The maths is fixed and does not depend on judgement.
Method
Every component is entered by the user and optional components left at zero are excluded from the total. Overhead and contingency are the firm's own rates; none is supplied.
Assumptions built into the result
- Mathematical: All components cover the same project scope and period.
Figures this calculator will never guess for you
- No industry-average rate, margin, overhead or ticket volume is inserted.
- No optional component is filled in on the user's behalf.
- No default contingency percentage is applied.
Limitations
- Gives a cost, not a price; profit is added in the quoting calculators.
Source and version
- Standard or reference
- Determine Budget — cost aggregation and contingency reserve — Project Management Institute (PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) — Estimate Costs and Determine Budget: activity costs are aggregated and a contingency reserve is added for identified risk.)
- Published source
- Project Management Institute — PMBOK Guide
- Formula version
- Version 1
- Verification
- Reviewed against the cited source on
- How much weight the source carries
- Standards or government
- Applies to
- Currency
- Amounts stay in the currency you choose; no exchange rate is applied.
Cite this page
Free Calculator. (2026, September 16). Project Cost Calculator. https://freecalculator.tech/tools/project-cost-calculator
"Project Cost Calculator." Free Calculator, 16 Sept. 2026, https://freecalculator.tech/tools/project-cost-calculator.
Project Cost Calculator — Free Calculator, https://freecalculator.tech/tools/project-cost-calculator
Related tools
Work out the hourly rate to charge a client so that target margin is met after overhead and non-billable time.
Find the true hourly cost of an employee once benefits, payroll cost and overhead are included.
Size a software application from its data and transaction functions before estimating effort or cost.
Estimate development effort, schedule and average team size for a software project of a known size.
Express cloud spend as a cost per customer, per transaction or per other business unit.
Set the rate used to apply manufacturing overhead to jobs for the coming period.