Mark-Up Options - ProEstimate

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Mark-Up Options

Overview: ProEstimate - Heavy gives the estimator tremendous flexibility in marking up an estimate. There are three different methods you can use to "mark-up" an estimate as shown in the Figure below. This screen is displayed by selecting the MARK-UP option on the Closing Menu. Each of these markup options is explained below.

CALCULATED MARK-UP	This option allows you to enter mark-up percentages for each of the eight or five cost types, depending on the option you selected when you initially set up the estimate. You can enter percentages for Overhead, Profit, and Other Mark-Up. When calculating the mark-up, the system uses the following formula:
	Cost x Overhead x Profit x Other Mark-Up = Bid For example, if the cost is $100, Overhead is 5%, Profit is 10%, and the Other Mark-Up is 0%, the bid price is calculated as follows: $100.00 x 1.05 x 1.10 x 1.00 = $115.50
ENTERED MARK-UP	This option allows you to directly enter a dollar amount for each pay item in the estimate.
CALC OVERHEAD/ ENTERED PROFIT	This option combines the previous two options; you can enter a percentage per cost type for Overhead and Other Mark-Up, and then you directly enter a Profit amount for each pay item.

* HELPFUL HINT *

If you use the “Entered Mark-Up” option, entering the mark-up for each pay item will typically be one of the last things you will do before completing the bid. We recommend you enter percentages and use “Calculated Mark-Up” option until you are ready to close out your bid, then you can switch to the “Entered Mark-Up” option. This way you can get a good idea of what the total project estimate will be as you work on the bid.

There are two locations from which you can select which mark-up option to use. The first location is on the Project Set-Up Screen (which you have already seen in the previous chapter). The second place is on the Project Closing Menu.