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Direct Cost Basics: Material, Labour, & Plant (The Real Price Tag)

Direct costs are the true foundation of any winning bid. If you get the cost of Material, Labour, or Plant (Equipment) wrong, your entire profit margin is at risk.

This essential video, based on our in-depth article, breaks down the 'Real Price Tag' of your construction project. We show Quantity Surveyors and Estimators how to calculate the exact, granular cost of these three core elements using first principles Stop guessing and start bidding with confidence!

Direct Cost Breakdown: Chapters & Timestamps

[00:00] Intro: What's Hiding in the Final Price Tag?
[00:06] The Hidden $23 Mystery: Why a $25/hr Worker Costs $48/hr
[00:10] The 3 Pillars of Direct Cost: Material, Labour, & Plant
[00:30] Pillar 1: MATERIAL** - The Net vs. Gross Secret
[00:43] Wastage: The Unavoidable Cost of Building Anything
[01:21] Pillar 2: LABOUR** - Breaking Down the "Burden"
[01:40] The Government's Cut: Social Security & Workers Comp
[02:00] The Productivity Problem: The Biggest Variable
[02:26] Factors Affecting Productivity: Weather, Site Conditions, and Experience
[02:50] Pillar 3: PLANT - Machinery & Equipment Costs
[03:00] The 3 Buckets of Plant Costs (Major, Hire, Consumables)
[03:36] The Grand Finale: Calculating the Net Unit Rate
[04:02] Case Study: The True Cost to Excavate 1 Cubic Meter of Soil (£60.71)
[04:50] Final Thoughts: Changing the Way You See Construction

Read the full article for more depth: https://awardedbid.com/direct-cost-ba...

Don't let your next project suffer from poor cost control. Watch now!

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