Summary Cost Estimate Clause Samples

The Summary Cost Estimate clause outlines the provision of an overall projected cost for a project or service, typically presented in a condensed format. This estimate aggregates anticipated expenses such as materials, labor, and overhead, and is often used in the early stages of planning to give stakeholders a clear sense of the expected financial commitment. Its core practical function is to provide a transparent, high-level overview of costs, enabling informed decision-making and budget planning before more detailed estimates are developed.
Summary Cost Estimate. All costs shall be itemized on a “Summary Cost Estimate” sheet with separate categories for Man-Day Costs, Fringe and Overhead, FCCM (Facilities Capital Cost of Money), Net Fee, Out-Of-Pocket Expenses and a summary amount for each Sub-Consultant. A sample cost estimate summary form is located in the Consultant Services Website. The raw labor estimate is derived from negotiated man-hours multiplied by certified hourly rates identified by job classification for the staff assigned to the proposed project. The labor estimate is then multiplied by the overhead rate. Combining the raw labor computation and the overhead rate computation results in the loaded cost of labor from which the fixed fee is calculated. The labor estimate is also multiplied by the FCCM, the total of which is listed as a separate line item and is not used in the fixed fee calculation. The amount of fixed fee for the Consultant is negotiable and is added to the consultant’s cost estimate as a separate line item. Out-of-Pocket Expenses, that are not included within the company’s Overhead rate, shall be itemized to reveal quantities, unit costs and a cost summary for each item. Out-of-pocket expenses are listed at actual cost and added to the cost estimate without mark-up for profit. Costs for each sub-consultant should be listed with the sum of their costs added to the estimate of the prime consultant. Each sub-consultant should provide a separate itemized cost estimate using the same format as described above for the prime consultant.
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Related to Summary Cost Estimate

  • Cost Estimate The cost estimate shall set out the estimated costs for the proposed Change Order in such a way that a fair evaluation can be made. It shall include a breakdown for labor, materials, equipment and markups for overhead and profit, unless TxDOT agrees otherwise. If the work is to be performed by Subcontractors and if the work is sufficiently defined to obtain Subcontractor quotes, DB Contractor shall obtain quotes (with breakdowns showing cost of labor, materials, equipment and markups for overhead and profit) on the Subcontractor’s stationery and shall include such quotes as back-up for DB Contractor’s estimate. No markup shall be allowed in excess of the amounts allowed under Section 10.6. DB Contractor shall identify all conditions with respect to prices or other aspects of the cost estimate, such as pricing contingent on firm orders being made by a certain date or the occurrence or non-occurrence of an event.

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds the CITY’s stated construction budget by ten percent (10%) or more, CONSULTANT shall make recommendations to CITY for aligning the Project design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.