My Project Management Lessons » materials http://www.myprojectlessons.com Lessons learned in Project Management Sat, 28 Nov 2009 02:34:57 +0000 http://wordpress.org/?v=abc en hourly 1 Allow For Inflation http://www.myprojectlessons.com/2008/11/allow-for-inflation/ http://www.myprojectlessons.com/2008/11/allow-for-inflation/#comments Wed, 26 Nov 2008 09:05:26 +0000 michael http://www.myprojectlessons.com/?p=114 Related Posts
  1. Treat Restarted Projects as New Projects
  2. Check the Status of the Supplier
  3. Addition Clause in Contract
]]> Make sure to allow for inflation in cost estimates.
Particularly allow for large increases in raw material costs (e.g. stainless steel, copper).

This is important in the tender preparation process. You don’t want to offer a fixed price and find that your material costs go up dramatically.

It is common to put a clause in your contract/offer conditions that allow for price increases on certain parts of your work if the material costs increase above a set percentage.

Related Posts

  1. Treat Restarted Projects as New Projects
  2. Check the Status of the Supplier
  3. Addition Clause in Contract
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