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| Terminology | Used in TrakPro Software |
| Actual Average Burdened Labor Rate/hour | Total actual project burdened labor cost divided by the total actual
labor hours to obtain and average actual project rate for employees with
benefits
Example 1: 2 workers for 1 hour (worker 1 burdened rate $15/hr and worker 2-$30/hr): actual average burdened labor rate/hour would be $22.50. Example 2: worker 1 ($15/hr) worked 123 hours and worker 2 ($30/hr) worked 78.5 hours. The actual average burdened labor rate/hour would be $20.84. |
| Burden Labor Cost | Rate applied to Raw Labor Cost for company provided benefits. A worked paid at $15.00/hour (raw) would actually cost the company $19.50/hour |
| Burden Rate | Company rate to provide employee benefits to people on the project |
| Cash Position | The Cash Position portion looks at the billings year-to-date versus the amount of Account Receivables to get your planned cash position. |
| Contract Average Burdened Labor Rate/hour | Total project burdened labor cost divided by the total labor hours to obtain and average project rate for employees with benefits |
| Contract Average Raw Labor Rate/hour | Total project labor cost divided by the total labor hours to obtain and average project labor rate |
| DJO Rate | Rate applied to raw labor rate for other project or management costs |
| ETC | Estimate-to-Complete
(ETC) is the project managers estimate of how many manhours and material
costs are required to complete the project. ETC cost
comes from the Summary Sheet based on actual and forecasted costs still
needed for project completion. |
| Estimator Accuracy | The estimator determines material quantity and labor experience. Trakpro will determine how accurate these bid values are to actuals values. |
| Fixed Labor Sell | Allows you to utilize bid and actual costs to lock the Labor Sell Price in order to determine gross profit |
| Fixed Material Sell | Allows you to utilize bid and actual costs to lock the Material Sell Price in order to determine gross profit |
| Fixed Time & Material Sell | Allows you to utilize bid and actual costs to lock the T & M rates in order to determine gross profit |
| GPM Goal | Rate company has set to achieve financial success in project related endeavors |
| Gross Profit | Project sell price minus project costs (in dollars) |
| Gross Profit Margin (GPM) | A good starting point for product/service pricing. Project sell price minus project costs divided by project sell price times 100 (in percent). Higher percentage is better. |
| JTD | Job-to-date. JTD actual project costs are added from all sheets and is received from the Summary Sheet. |
| Labor Hours | Total labor hours to accomplish the project. All labor grades |
| PPPM | Project cost item. Parking, per diem, permits and mileage paid to workers |
| Premium Time Rate | Rate applied to Raw Labor Cost for Union Labor or weekend/special rates |
| Raw Labor Cost | Total labor cost paid to a worker (before any company expenses (401K, Health Benefits etc.) Usually labor rate per hour quoted @ hire date. |
| Variance | Difference, Bid minus Actual values |
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