POLICY: Buyout Schedule

PURPOSE: To ensure the buyout of the project is performed in a timely manner and supports the schedule.

RESPONSIBILITY: Project Manager

PROCEDURE:

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 six (6) weeks after budget approval.

4. The Buying Schedule will be set-up by the Project Manager. The Project Manger will utilize Timberline’s Buyout Program when setting up the Buying Schedule.

5. Information required on the schedule is self-explanatory as indicated by the various headings on the schedule.

6. It is the Project Manager’s responsibility to ensure buyout progresses in a logical manner that supports the project schedule.

7. The Project Manager is responsible for keeping the buying Schedule current. A copy of the Buying Schedule is to be sent to the Project Superintendent on a weekly basis. Also, a copy for the Office file is to be issued weekly.

Blank Buyout Schedule
Sample Buyout Schedule

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