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Estimating a Future project schedule and cost for internal budget planning

When planning a software project, you need to verify that project development is within the time and budget constraints available to your organization or allocated to the project, as well as making sure adequate profit margin remains, after deducting costs from the target price tag.

Step by step instructions:
 1. Select a software project with similar functionality to the future project you plan on developing. Usually an older project of yours, or a downloaded Open Source project from one of the open source repository websites such as SourceForge (www.sf.net) or Google Code (code.google.com)
 2. Make sure you don't have any open ProjectCodeMeter report files in your spreadsheet or browser, as these files will be updated
 3. Put the project source code in a folder on your local disk (excluding any auto generated files, and files which functionality is covered by code libraries you already have)
 4. Select this folder into the Project Folder textbox (make sure NOT to select "Differential comparison").
 5. Select the Settings describing the project and the tools available to your development team, as well as the actual average Price Per Hour paid to your developers. 
 6. Click the "Analyze" button. When analysis finishes, Time and Cost results will be shown at the bottom right summary screen

It is always recommended to plan the budget and time according to average programmer time (as measured by ProjectCodeMeter) without modification, since even for faster development teams productivity may vary due to personal and environmental circumstances, and development team personnel may change during the project development lifecycle. 
In case you still want to factor for your development team speed, and your development team programmers are faster or slower than the average (measured previously using Productivity Sizing), divide the resulting time and cost by the factor of this difference, for example if your development team is twice as fast than an average programming team, divide the time and cost by 2. If your team is half the speed of the average, then divide the results by 0.5 to get the actual time and cost of development for your particular team.
However, beware not to overestimate the speed of your development team, as it will lead to budget and time overflow.

Use the Project Time and Cost results as the Development component of  budget, add the current market average costs for the other relevant components shown in the diagram above (or if risking factoring for your specific organization, use your organizations average costs). The resulting price should be the estimated budget and time for the project.

Optionally, You can add the minimal profit percentage making the sale worthwhile, to obtain the bottom margin for a price quote you produce to your clients. For calculating the top margin for a price quote, use the process 
Estimating a Future project schedule and cost for producing a price quote.