HomeMy WebLinkAbout06. Project Budget Overruns�e
PROJECT BUDGET OVERRUNS
WITHIN THE 15% GM AUTHORITY
12/9/14 ENGR. & OPS COMMITTEE MEETING
DAF TANK RENOVATIONS, DP 7309:
BUDGET
Board Approved Budget:
Construction Contract $ 617,000
Contingency at 15% $ 92,550
Construction Management and POD Coordination $ 90,000
All Other Expenses $ 167,000
Total Project Budget at Award: $ 966,550
Current Estimate to complete project:
Construction Contract $ 617,000
Change Orders $ 95,0002 (15.4 %)
Construction Management and POD Coordination $ 127,550
All Other Expenses $ 207,0003
New total project budget: $ 1,046,550
Estimated Project overrun of $80,000 (8.2 %) due to following:
All Other Expenses include: Prebid Expenditures, Structural Engineering,
Construction Services, and inspection services; NACE certified coating
inspection.
2 Change Orders: Approximately $60,000 of change order costs was associated
with unforeseen conditions related to the floor grout in Tank Nos. 1 and 2. The
floor grout in both tanks was discovered to be failing and had to be replaced
during the project. In addition to Contractor costs, additional engineering and
inspection costs were incurred as noted above.
3 Additional costs were incurred during construction for additional engineering
and inspections due to grout replacement, coating work, and inspections.
C:\ Users \cQeeWppData \Local \Microsoft \Windows \Temporary Internet Files \Content.Outlook \SZPPEJUP \7309
Cost Breakdown - Final.doc