Delays in projects can significantly affect overall costs and profitability. This calculator helps you estimate the total cost associated with delays based on daily expenses and the duration of the delay.
How to Use the Cost of Delay Calculator
1. Enter the daily costs incurred by your project.
2. Input the number of days the project has been delayed.
3. Click 'Calculate Total Cost of Delay' to view your estimated financial impact.
Example Calculation
If your project's daily cost is $500 and it has been delayed by 10 days, the total cost of delay would be:
Total Cost = Daily Cost * Days Delayed = 500 * 10 = $5,000
Why Understanding the Cost of Delay Matters
Knowing the cost of delays can help you prioritize tasks, allocate resources efficiently, and improve decision-making in project management.