Estimator Answer:
If you have used Quick Paint Rate rates to price a project (i.e.you are pricing a bill of quantities or job you have measured yourself), you can also work out the Target Completion Days and Project Materials budget.
How?
Easy! When you are pricing a job using Quick Paint Rate, you will always use the overall ‘all-in’ rate to price. However,you also need to make a note of:
1. The lab/OHP split part of the rate (as displayed in Quick Paint Rate).
2. The materials split part of the rate (as displayed in Quick Paint Rate)
3. The overall daily painter charge on which you based your project rates.
For example, say we have secured a tender with an overall value of £28,750.00
1. To work out target ‘man days’ you have to complete the project:
(a) Use the Lab/OHP splits of each rate and multiply these against your quantities/measure. Add together, to give you a total (£) that will be the overall Labour/OHP part of your price. (Let’s say in this example , thi came to £25,000)
(b) Divide this by the overall daily painter charge you used to calculate the rates using Quick Paint Rate (Let’s say in this example we based our rates on £175.00/day)
(c) In this example, the total is the number of ‘man days’ you have to complete the project and earn your normal profit. £25,000 divided by £175 = 143nr. ‘man days’.
2. To work out your materials budget?
Deduct the total Labour/OHP value, from your overall price. So, in this example, project materials budget is: £28,750- £25,000 = £3,250.00
Why is this information important?
Knowing the target completion days (‘man days’) for a project is critical, if you are to have the best chance of losing money on a project. When doing a painting project, it is no good simply finding out at the end that you have lost money when you have no chance of doing anything about it. By knowing the target completion days and keeping track of the total labour time as you work on a project you and your painters have spent on site, you can walk on a site knowing that you have used up say 20% of the ‘man days’ and check to see if you are roughly 20% of the way through the project. If you are not, then you still have a chance to give the job a ‘push’, in order to bring it back on track. So every time you want to check on progress, you look at what percentage of the ‘man days’ have been used and check to confirm that you are this percentage of the wasy through the works.
Hope you find this useful.
Happy estimating,
Mark
Painting Estimator-panddonline