article thumbnail

8 essential steps for effective project cost estimation and budgeting

Fieldwire

Although almost any product has a budget-friendly option, finer materials contribute to functionality , aesthetics, safety and longevity. Calculate labor costs Labor costs include worker wages, taxes, insurance premiums, retirement contributions, vacation and sick leaves, and union dues. Quality must take priority over price.

article thumbnail

Job Order Contract Execution Guide – Sample Template

Job Order Contracting

coefficient (reference table of allowable overhead). ORGANIZATION NAME Technical Staff / Facilities Management Department Representative(s) and authorized ORGANIZATION NAME Procurement Authority review the Contractor’s Proposal. The UPB costs should NOT include contractor overhead and profit. Safety Nets. authorization.

Contract 100
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

See also Overhead, Indirect cost. See also, Overhead, General & Administrative Cost, Distributable. Examples: safety meeting, travel time, clean up time, wash up time, etc. Overhead - In business, overhead or overhead expense refers to an ongoing expense of operating a business; it is also known as an "operating expense."

article thumbnail

Job Order Contracting – Best Practices Implementation

Building Information Management

The Contractor shall furnish as part of its overhead cost, included in the coefficient, all necessary protective equipment, concrete mixing boxes, water barrels, wheelbarrows, hoes, shovels, tools, mortar boards, ladders, portable scaffolding, shop tools, hand tools, shop equipment, and fabricating items customary to the trade, etc.,