The project or sub project fee can can be calculated using the Cost Plus calculator which would allow you to consider the costs set up in the Budget previously before establishing the fee.
The fee can be calculated in this way 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 Cost Plus.
- Now click Reload from Live to bring forward the cost of the project or sub project set up in the Budget previously.
- Then, enter the Contingency and Markup as either a % (percentage) of Cost or a Lump Sum and enter the values respectively.
- After doing this, click Done.
- Once back in the Budget & Fee section, you will be able to see the fee you just entered.
- f you are calculating the fee on a sub-project level, you can go ahead and set a lump sum fee for any other stages of the project as needed.
- Save your changes before exiting.
We hope this article was helpful. If you have any questions, please do not hesitate to reach out to us. Our support team is always happy to help!