Cost includes the company expense to bring the product to market (material cost, labor costs, transportation costs, operating expenses). Price represents the amount a customer pays for that product or service. The difference between the price that is paid and the cost that is incurred is the profit. Saving Changes...
Estimated cost means developing the approximate cost of completing the entire project or part of it. It is the expected quantitative result. Price is the amount a customer pays for that product or service or the amount of money the organisation will charge to deliver the project. Saving Changes...
Estimated Cost is the amount of money that must be spent to deliver the project/ product and Price is the amount which customer pay for that project / product. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
The price associated with a project is quite different that the price for a product. Usually a product has a firm price, or at least a firm price list.
A project's price will depend on risk variables, including contract type. The more risks borne by the project team, the bigger the margin you need to add to your cost to set the price. Saving Changes...
