Remove Compensation Remove Overhead Remove Travel
article thumbnail

Construction Cost Optimization

Job Order Contracting

Labor Based upon contract requirements, local labor costs may be sourced from published Davis Bacon Wage Rates, or published state data sources, or directly researched local prevailing wage rates with appropriate inclusion markups for worker compensation, unemployment, liability insurance and allowance for small tools and consumables.

article thumbnail

2020 Guide to Construction Cost Estimating

Job Order Contracting

Based upon contract requirements, local labor costs may be sourced from published Davis Bacon Wage Rates, or published or researched local prevailing wage rates with appropriate inclusion markups for worker compensation, unemployment, liability insurance and allowance for small tools and consumables. General Conditions.

professionals

Sign Up for our Newsletter

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

article thumbnail

Job Order Contract Execution Guide – Sample Template

Job Order Contracting

project task/line item, a full description in plain English, a unit of measure and a corresponding unit price, including labor, material, and equipment details, and an associated approved contractor coefficient are to be the basis for Contractor compensation. coefficient (reference table of allowable overhead). authorization.

Contract 100
article thumbnail

Small Projects to Make Your Kitchen Look New

Construction Marketing

To compensate, add lighting high up on the walls or on the ceiling. Shine an overhead light onto a beautiful old china cabinet or a gorgeous painting. Some people use a theme such as farms, travel, beaches, or lighthouses that is related to their family experience. Natural light is the best lighting for any room.

Budgeting 134
article thumbnail

Basic Accounting Terminology for PMs

PSMJ Resources

They include supplies and unreimbursed travel. Billed/Invoiced Amounts: Amounts billed to clients based on contract compensation amounts and percent complete. Direct Expenses: Expenses that are charged to a project or task and NOT billed directly to the client; the cost of these expenses must be absorbed by the project or task.

article thumbnail

CCIP & OCIP: A Guide to Controlled Insurance Programs in Construction

Levelset

They are also frequently written to include umbrella insurance and workers’ compensation insurance (in monopolistic states, where workers compensation is run through the state, CIPs are available without this coverage). Whether the policy is controlled by a contractor or owner, an OCIP or CCIP policy reduces project overhead.

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. Labor burden is the cost of payroll taxes and insurances (such as Workers'' compensation) which the employer must pay to employ workers. Examples: safety meeting, travel time, clean up time, wash up time, etc.