How to estimate a Project Cost more Accurately?

Project Steps has a nice list of points one should keep in mind while estimating the cost of a project.

Here are the basics behind the estimating process;

Other items to consider when estimating are:

Accurate estimating is an art and a science. The estimator (or team) must take into account historical data from past proejcts, the team’s knowledge and experience, the project risks, the statement of work and other project information to make the best estimate possible. Keep in mind when planning your project that estimates aren’t hard and fast numbers. They are guesses, however they should be very good guesses if you have good estimators and are following tried and true estimating practices.