POLICY: Anticipated Final Labor Cost Worksheet
PURPOSE: To report the weekly labor cost status of the project and anticipate the final labor cost based on the best judgment of the management team.
RESPONSIBILITY: Superintendent and Project Manager
PROCEDURE: The worksheet will be used to create the final labor cost and variance columns on the Project Cost Report and the Labor Cost Report.
- The worksheet will be a Labor Cost Report with a blank to the side for the Superintendent and Project Manager to fill in the anticipated final cost for that particular labor item. It is not necessary to make an entry if the current anticipated cost is correct.
- This information is to be entered weekly and submitted to the corporate office.
- Although this worksheet is the responsibility of the Superintendent and Project Manager, he/she will solicit input as necessary from other members of the management team.
- Upon completion, the worksheet will be forwarded to accounting. Accounting will input the projections and they will be reflected on the next Labor Cost Report and Profit Cost Report.
- The anticipated final cost to the project will be based on this individual projection.
THIS MUST BE ACCURATE!!
An example of the Labor Cost Report Worksheet is attached.