5. The following lump sum cost categories will be incurred by a project: a. Dewa
ID: 1711843 • Letter: 5
Question
5. The following lump sum cost categories will be incurred by a project:
a. Dewatering due to rain
b. Stormwater management
c. Site security
d. Construction insurance
e. Tailgate safety meetings
The number of working days for the project were determined to be 90 days with 8 weather days scattered throughout the working days. Two national holidays will occur during this period.
Costs for the project are:
Dewatering costs are $368.56/hr for 6 hours per weather day
Stormwater Management is $1025/weather day
Site Security is $247.62/calendar day
Construction insurance is $14,500/month or portion of a month
Tailgate safety meeting occur each week or partial week that work occurs for 1 hour
Crew costs are $575.35/hr
What is the total lump sum cost (the sum of all of these costs) for these items?
Explanation / Answer
step1-
Dewatering costs are $368.56/hr for 6 hours per weather day
As per question 8 weather days scattered throughout the working days.
Therefore, Total Dewatering costs =368.56*6(for one day per 6 hours)
=368.56*6*8
=17690.88$
Step 2-
Stormwater Management is $1025/weather day.
As per question 8 weather days scattered throughout the working days
Therefore, total cost in Stormwater Management = 1025*8
=8200 $
Step 3-
Site Security is $247.62/calendar day
calendar days: All days in a month, including weekends and holidays.
The number of working days for the project were determined to be 90 days.
Therefore, 247.62*90
=22285.8 $
Step 4-
Construction insurance is $14,500/month or portion of a month.
The number of working days for the project were determined to be 90 days.
Hence, 1 month has 30days
3 month has 90 days
Therefore, 14500*3
=43500$
Step 5-
Tailgate safety meeting occur each week or partial week that work occurs for 1 hour
Crew costs are $575.35/hr
As per question the number of working days for the project were determined to be 90 days.
Hence there are 15 weeks in 90 days
Therefore, 575.35*15
=8630.25$
So,
The total sum of above is the total lump sum cost (the sum of all of these costs) for these items
=17690.88+8200+22285.8+43500+8630.25
= 100,306.93$
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