CMP 101 - Final Help Sheet - Q's clients ask How much\/long Estimator answers how much scheduler answers how long Estimate To judge\/form an opinion of

CMP 101 - Final Help Sheet - Q's clients ask How much/long...

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Q's clients ask: How much/long? Estimator answers how much, scheduler answers how longEstimate: To judge/form an opinion of the value of something. Make an educated guess based on facts & experienceJob of con. estimator: determine the cost of a project, while maintaing a competitive edge in the marketplaceParts of the con. estimate: Direct costs: materials, labor, subcontractors, equipments. Indirect: taxes, profit, overheadDirect costs: would not exist if the estimators were not successful in winning a bid/obtaining a projectLabor: Includes no salaries for owners, office personnel, or supervisors. May/may not include worker compensation, health insurance, vacas, sick days, employer's portion of Soc. Security tax, & other fringe benefitsEquipment: equipment owned by the contractor may be under indirect costs, w/ operating expenses under direct.Subcontractors: any work hired under a subcontract w/ special trades. Bids are phoned in/faxed to the GCIndirect costs: exist whether or not a bid has been won or a project obtained. Ex: gas, telephone, computers..Overhead: includes telephone, uniforms, utilities, office rent furniture, computers, accounting, legal fees, insuranceTypes of estimates: ball Park, Preliminary, DetailedKeeping Track-Job Cost: Job cost reporting and accounting are required to keep track of built cost vs. bidEstimating Software: Sage Timberline Office accounting, estimating, and project management software.Lien: A legal claim against the property of another as security for the payment of a debt. Removed when a contract is paid and lie wavier is signed. Lien may give the lien holder the right to sell the property to satisfy the debt if it is not otherwise paidLien Wavier: thought to be a relinquishing of ones lien rights. You are acknowledging receipt of payment. Hard to defend in courtTypes of Lien Waivers: Conditional: 1. on progress payments 2. on final payment Unconditional: 3 & 4 are same as 1 & 2Mechanic's Lien: The fact that the lien claimant can look to the improved property itself for payment is the essence of the lien rightPrecon. Meeting: attendees likely to be owner, architect, engineers, GC, subs. Agenda to cover General & supplemental ConditionsAgenda: Intro., Site Logistics (access, traffic, etc), Schedule Issues (liquidated damages, hrs worked, sequence of work), Completion procedure (substantial completion, final inspection/payment), Business records, (payroll, vendor/subcon. payments), Change orders & extra work, Disputes (claims), Payment issues (schedule of values, application for payment, when payments are to be madeSchedule of Values: detailed statement furnished by a con. contractor, builder or others outlining the portions of the contract sum.
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  • Fall '08
  • metoyer
  • Indirect costs, Corp., Collective bargaining agreement, Wavier, lien waivers

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