A continuation of TSYH 3450. The cost elements of quantities including labour, materials, handling, inventory, overhead, etc., are determined or applied to take-off quantities in preparing bid estimates and summarizing project costing.
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Upon successful completion, the student will be able to:
Module 1 - Introduction to Costing
Define the general terms related to costing and pricing of a heavy construction project tender.
Differentiate between fixed and variable indirect costs in general terms.
Differentiate between lump sum and unit price tender prices and give examples of the application of each.
Discuss the differences between balanced and adjusted tender prices, and the reasons for and against unbalanced tender prices.
Module 2 - Labour Rates
Identify and discuss the components of hourly labour rates used in the costing phase of an estimate.
Research and calculate hourly labour rates for use in the costing phase of an estimate.
Identify and discuss overtime and shift premiums and calculate appropriate overtime and shift premium factors.
Module 3 - Equipment Rates
Identify, discuss, and calculate the ownership cost and depreciation allowances for equipment and convert these values to hourly rates.
Identify, discuss, and calculate the operating costs for equipment.
Compare and recommend either rental or purchase of equipment based on calculated comparisons.
Module 4 - Direct and Indirect Cost Calculation
Define the cost categories typically involved in direct and indirect costs.
Employ a typical item detail analysis form to calculate unit and total costs for specific direct and indirect cost items using previously calculated take-off quantities and productivity.
Module 5 - Estimate and Tender Completion
Describe in detail the engineering fundamentals of productivity and apply these concepts to the calculation of productivity rates for equipment and labour crews.
Employ a typical estimate summary form to summarize direct and indirect cost items, distribute indirect costs to tender items and distribute profit to tender items.
Describe the process for completing and submitting a tender for a heavy construction project.
Effective as of Fall 2003
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