Estimate to Complete (ETC) forecasts the cost required to finish a project’s remaining work from a stated status date.
Definition
ETC is the forecast cost of completing the work that remains at a defined point in the project. A project manager may build it from remaining labor hours and rates, expected subconsultant or vendor commitments, reimbursable expenses, and known risks. Firms differ in whether they include all indirect costs and how they account for uncertainty, so the estimate should state its assumptions and cost basis. ETC changes when scope, schedule, staffing, productivity, or project conditions change. Owners use it with costs already incurred to understand the likely total cost and compare that forecast with the project budget or fee. ETC is not the amount already spent, the contract fee, or a promise that the project will finish at that cost. It is a forward-looking estimate that needs current scope and progress information to remain useful.
How owners use it
- Ask project managers to support ETC with remaining tasks, hours, commitments, and identified risks.
- Compare ETC with available budget to assess whether remaining work appears funded.
- For example, 300 remaining hours × $100 per hour = $30,000 estimated labor cost to complete.
- Use ETC with actual cost to date when updating the project’s total cost forecast.
