Resource And Time Budgets Assignment Help
Resource and Time Budgets You are going to be the project manager for the construction of a large warehouse for a major international company. Of course, there are many elements involved in constructing such a large facility, but this assignment will consider only one, the laying of the facility's foundation (which is obviously preceded by site preparation and followed by the actual construction of the building). In preparation for completing of this element of the project-laying the facility foundation
Locate a source of data for the hourly wages that will need to be paid to those who will pour and finish the concrete foundation. Be sure to document the source of your hourly wage data for such concrete workers. Locate a source of data for the cost of a cubic yard of reinforced concrete. Be sure to document the source of your reinforced concrete cost data.
Assuming that eight workers will be needed for the completion of the project, that they will work five days per week for 10 hours per day, and that it will take them three full weeks to complete the pouring of the foundation, what is your estimate (based on the hourly wage data that you located) of the labor expense of pouring the foundation?
Assuming that the foundation will require 400 cubic yards of concrete, what is your estimate (based on the hourly wage data that you located) of the cost of the materials needed for pouring the foundation?
How would "Overhead charges" impact the two estimates that you have calculated?
How would an increase in the cost of steel (one of the components of reinforced concrete) impact the budget that you had developed? If the construction site was impacted by a hurricane during the preparation of the foundation (meaning that work had to be temporarily stopped), how would the overall schedule of the construction project be impacted?
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The assignment deals with explaining the question into two perspective one being the numerical calculation of the various terms and the other being the analysis perspective of the and theoretical preview of the question. Understanding the base of the all it deals with budgeting the construction of a large warehouse for a major international organizational basically dealing with the laying the facility foundation and analyzing it cost components and how cost factors and natural situation affect each other.
This system analysis is based on the following step laid below
1st Step – It is to analyzing the hourly wage data for such concrete workersas per the occupational employment statistics which was update on May 2018. It also leads to add 47 -2061which leads to construction laborers especially for the foundation employment. The mean wages hourly will be $ 18.86 which specially for this category workers.
On the basis of this cost of the workers rate can be expressed as follows: - The project will be completed as in following data provided below
Workers = 8 in Total : Working Days = 5 in a week : No of Hours = 10 Days per week
Total Cost = No of Workers * No of Working Days * No of Hours * Total No Of Week Hourly Rate for Labor = 8 * 5 * 10 * 3 * 18.8 = $ 22632.
2Nd Step – Itis to analyzethe cost of a cubic yard of reinforced concrete - The cubic yards needed = 400 for the concrete in order to pour the foundation and therefore the cost estimated can be stated as follows: -The rate is taken by considering the value provided on the Concrete price considerations which will be cost of concrete and according to the details provided by the NRMCA - Ready Mixed Concrete Industry Data Survey for the recent survey made in fiscal year 2016 the value = $ 108 / cubic yard. Total Costs = $ 108 * 400 = $ 43200
The Step leads to be analyzing the total cost which can be summation of the both separate cost computed to provided the actual value which could lead to
Total Costs = Cost of the Cubic yard + Cost of Labour Costs
$ 43200 + $ 22632 = $ 65832
3rdStep – It is to analyze impact the two estimates that you have calculated and its impact on the overheads.
On account with the overhead charges it is essential to understand that it is different from the material segment and the labour segment whether being on the perspective of indirect nature or the direct nature. Thus, in a simplified version overheads is any other expenditure like the selling and distribution expenses, general administration expenses, gas expenses, other operational expenses which can regular nature or irregular in nature. Thus, looking at the cost estimated above it a summation of two factors which being the cost of foundation which comes under the head of material expenses. The other is the labour cost computed while analyzing the foundation which being the direct wages. In both the concept none of them deals with overhead expenditure. Therefore, the two estimated computed does not deal with the overhead expenses. Hence, will not change or impact the cost in any manner for any provided duration.
4thStep - an increase in the cost of steel impact the budget that you had developed
In terms of steel price which being one of the essential ingredient of the material expense in especially in terms with the construction foundation and essential covers at least sixty to seventy percent of the cost in prime cost category. It is definitely a costly expense and thus will have a equal and reaction to the whole expenditure analysis. Therefore, in mathematical perspective
Say cost of the steel is 65 % of the total cost then a one dollar inflation will steel price will have a change in the concrete cost by 0.65 times. (65 % / $ 1)
5th Step – Construction site was impacted by a hurricane during the preparation of the foundationhow would the overall schedule of the construction project be impacted
In terms of the hurricane the first and the foremost aspect is that it is an Natural disaster which cannot be controlled by any man made analysis and secondly it is un predictable, therefore, comes under the target of abnormal losses. This element can be lead to destructive perspective which effects and hampers both the major parameters of the construction, time element and the costing factor. Therefore, in terms with the preparation of the foundation and the schedule plan will definitely be distributed and at times its un predictable till the time duration it is stretched. In respect to the cost of the construction this will depend on how majorly the hurricane has effected the present or ongoing construction work and the expense will be further effected by the time duration prolonged till the time the work is again kick started.
This is an process which helps in explaining how in real world it is very evident that how the rates need to calculated. Moreover, it will lead to a process where the construction will lead to how the government regulate the prices. Further, it provides a costing analysis and the foundation perspective.
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