The project or sub-project fee can be calculated as percentage of the construction value for the respective stage or stages.
This fee calculation method can be utilised as follows:
- Open the project and navigate to the Budget & Fee section.
- Now, click anywhere that has a pencil icon beneath the Fee column. This will either be the total fee value directly beneath the Fee column, or the fee value for a specific stage, depending on whether you want to calculate the fee at a project level or sub-project level.
- In the Fee Calculation pop-up window, set the Calculator to % Construction Value.
- If you know what the cost of construction is, you can simply set the Construction Value to Lump Sum and enter this value along with the Fee Percentage before clicking Done.
- If you are uncertain of the construction cost, you can first calculate it using a specified measurement unit. In this case, can set the Construction Value to Calculated and proceed to enter the value, unit dimension and the cost thereof. For example, the square area of the construction along with the the cost of building per square meter. Thereafter, you can specify the Fee Percentage before clicking Done.
- Once back in the Budget & Fee section, you will be able to see the fee you just calculated.
- If you are calculating the fee on a sub-project level, you can go ahead and the fee based on the percentage construction value for any other stages of the project as needed.
- Save your changes before exiting.
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