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Question: MSc Surveying at University of Reading (College of Estate Management)
Graduate Development Programme
Fundamentals of Construction Practice
Assignment 2b [489 Words]
Discuss how the contractor would normally allow for the recovery of his general overheads and project overheads when a bill of quantities is used in the tendering process.
Marks will be awarded for:
quality and clarity of the discussion of general overheads;
(5 marks)
quality and clarity of the discussion of project overheads.
(5 marks)
Answer: General overheads are recovered by estimating the general costs expected to spend on a particular project. The estimator will assess the general overheads based on the percentage between the total budgeted general overheads in the coming year divided by the expected total contract sum in the coming year. By multiplying this percentage to the contract sum of a particular project will be the estimated general overheads of that particular project for pricing purpose. The percentage may be slightly adjusted by the estimator depending on the current market condition, urgency of the contractor to obtain the contract and the total contract sum of projects held by the contractor currently, etc....(short extract)
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- Subject: Quantity Surveying
- Course: MSc Quantity Surveying
- Level: Degree
- Year: 2nd/3rd
- Mark: 74%
- Words: 486
- Date submitted: August 14, 2011
- Date written: November, 2009
- References: Yes
- Document type: Essay*
- Essay ID: 3865
