From the course: Construction Change Orders
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Direct job expenses
- [Presenter] With all projects, there are direct job expenses, and change orders are no different. Consider the following categories when pricing your change orders. Additional equipment and rentals. Whether you own the equipment or you're renting it, it's likely that you will use it for the additional work, and therefore, you're entitled to charge for it. There are numerous trade publications that are accepted pricing guides for owned equipment. A rental company's invoice can also be used as backup for rental equipment pricing. Additional bond and insurance. When a construction contract's value is increased, or the time duration of the project is increased, in all likelihood, the cost for special insurances and bonds will also increase. Consult with your financial team and insurance providers to get an understanding of what the additional premiums will cost for change orders, so that you can include this in your change order proposal. Additional consumables. Just like any other…
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