Remove Liability Remove Organization Remove Profitability
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

liability insurance and allowance for small tools and consumables. Liability insurance based upon local contractor rates is also added as a percentage. Liability insurance based upon local contractor rates is also added as a percentage. The base rate does not include overhead and profit, however, can be added if needed.

professionals

Sign Up for our Newsletter

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

article thumbnail

YOUR PERSONAL LIABILITY FOR WORKPLACE SAFETY

Safety Services Company

Safety must be the foundation of every activity in your organization, because not only is it the keystone of productivity and profitability, but a responsibility for which you are expressly liable. Organizations can be fined up to $500,000. This can be a large task, but its value is immeasurable.

article thumbnail

Safety First, Bidding Next: How Safety & Compliance Wins Contracts

Safety Services Company

Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. With growing scrutiny on job site dangers and liability concerns, prioritizing safety is crucial in sustaining a competitive edge. Let’s look at why that is.

Safety 107
article thumbnail

JOC Tutorial #71 – Terms

Job Order Contracting

(a) “Adjustment factor” / “coefficient+ – job order contractor’s competitively bid adjustment to the organizations prices as published in the current unit price book. f) “Job order contractor” – a licensed, bonded, and general liability insured contractor awarded a job order contract. (g)

article thumbnail

What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

At the core, you have property coverage for your tools and equipment, along with a liability component that protects your financial assets in case there’s a work-related accident or injury that you may have some responsibility for. . It’s prudent to look back and realize that potential liability doesn’t end when the project is completed.

article thumbnail

5 Reasons to Turn Down a Project

PSMJ Resources

Every firm has its fee floor for profitability. Below this limit, the firm, by its nature, cannot produce profits, as it will automatically invest too many resources. Turn these projects over to smaller organizations which will not compete with you on larger projects from that client. Professional Liability Risk.