POLICY: Buyout Schedule
PURPOSE: To ensure the buyout of the project is performed in a timely manner and supports the schedule.
RESPONSIBILITY: Project Manager
1. Review the estimate for all items to be purchased by written purchase order and/or subcontract.
2. List each item to be purchased with its cost code, estimated cost, and delivery date onto the Buying Schedule. Include all materials, labor only subcontract, and conventional subcontracts. Items listed in the Buying Schedule should be arranged by CSI Divisions.
3. Buyout should progress in a timely manner and should complete not later than sixty (60) to ninety (90) days after budget approval.
4. The Buying Schedule will be set-up by the Project Manager.
5. It is the Project Manager’s responsibility to ensure buyout progresses in a logical manner that supports the project schedule.
6. The Project Manager provides the Senior Project Manager and Vice President of Construction a copy of the schedule on a weekly basis until buyout is completed. Additionally, status of the buyout schedule will be discussed during the month Superintendent/PM project meeting.
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