5 best practices used to include equipment costs in electric utility construction projects (plus some cool tech tool areas for your field crews)
- May 3, 2021 10:33 pm GMT
A challenge in many utilities is correctly recording equipment used on projects. The main bottleneck is the flow of information from the field construction to the finance office - if the hours of use are not recorded, there’s no way that amounts can be added to projects. There are best practices in this area that can streamline the process and provide needed information with minimal work. Here are 5 ways to reduce headaches and congestion in this area.
1. Make equipment costs part of the labor loading rate
As labor is used on almost every utility construction project, using labor dollars is a natural vehicle for loading equipment costs. Applying equipment costs as a percentage adder to the labor loading rate is a method used to spread equipment costs. This method ends the need for hourly equipment use data to be provided from field crews to the finance office.
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