Direct versus Indirect Expenses in Construction Projects
This webinar discusses construction expenses, their type and classification. It goes into each category and explains it in simple terms. We discuss labor, materials, equipment, other (government fees, lab tests), subcontracts, job (project) overhead, general (main office) overhead, contingency allowance, profit allowance, and inflation / escalation allowance. We then go into a brief analysis of all these expenses. We mention bonds and insurance. We discuss ways to track overhead expenses.Areas Covered Definition of direct and indirect expenses.Categories under direct and indirect expenses. Brief discussion of labor, materials, and equipment. Discussion of overhead expenses, and contingency, profit, and inflation / escalation allowances. Discussion of bonds, insurance, and general conditions.Discussion of ways to track overhead expenses.General tipsWho Should AttendThis webinar is important for the entire project management team, particularly cost estimators, contractors, project managers, project controls managers, planners and schedulers, and other project management team members.Why Should You AttendThis webinar shows all types and categories of expenses to the construction company and how they must be measured and classified. It is an educational seminar to basic concepts in construction expenses that make a big difference.Topic BackgroundIdentifying and classifying construction expenses is a must for every contractor. Distinguishing between direct and indirect expenses is also vital for tracking these expenses. They are tracked differently. Overhead expenses are often away from the contractor’s radar, but if they get out of control, it can cause financial problems to the company that may lead to its collapse.
Single
This webinar discusses construction expenses, their type and classification. It goes into each category and explains it in simple terms. We discuss labor, materials, equipment, other (government fees, lab tests), subcontracts, job (project) overhead, general (main office) overhead, contingency allowance, profit allowance, and inflation / escalation allowance. We then go into a brief analysis of all these expenses. We mention bonds and insurance. We discuss ways to track overhead expenses.
Areas Covered
- Definition of direct and indirect expenses.
- Categories under direct and indirect expenses.
- Brief discussion of labor, materials, and equipment.
- Discussion of overhead expenses, and contingency, profit, and inflation / escalation allowances.
- Discussion of bonds, insurance, and general conditions.
- Discussion of ways to track overhead expenses.
- General tips
Who Should Attend
This webinar is important for the entire project management team, particularly cost estimators, contractors, project managers, project controls managers, planners and schedulers, and other project management team members.
Why Should You Attend
This webinar shows all types and categories of expenses to the construction company and how they must be measured and classified. It is an educational seminar to basic concepts in construction expenses that make a big difference.
Topic Background
Identifying and classifying construction expenses is a must for every contractor. Distinguishing between direct and indirect expenses is also vital for tracking these expenses. They are tracked differently. Overhead expenses are often away from the contractor’s radar, but if they get out of control, it can cause financial problems to the company that may lead to its collapse.