Project Management

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Topics: Construction, Consulting, Estimating, Procurement Management
Project Management Wages/ Remuneration
As a Project Manager, or head of a PMO, which formats have you found to be most efficient to quote your wages or expected salary for a new project to a new sponsor?

Consider Huge Projects and Medium Scale Projects.
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We don't track staff costs on projects.
If we did, I'd present the total salary bill + on costs (e.g. national insurance, pensions, etc). I'd expect to get this number from HR or Finance. It's not appropriate for me to know the salaries of each individual project team member if I am not their line manager.
Agree with Elizabeth
Stanley -

The bank I currently work for has standardized rates by role & level which are used when estimating costs and tracking actuals. The rates don't change based on the type of project.

Kiron
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1 reply by Stanley Oranika
Mar 19, 2018 7:30 AM
Stanley Oranika
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Thank you Kiron
We call it a Fully Loaded Blended Rate
Yes most organizations will have salary bands/levels associated with the role, and you can get that from Finance usually.
In Construction & Real Estate Development, here is what we do:

1- Construction Management:

When we bid on a project, we do follow something called Division 16 - The first divsion is doe General Conditions that are called GC's (Those include all overheads like wages, vehicles, computers and so on).

2- Project Management Consulting:

When we bid on those projects, we attached a standardized rate by role like Kiron mentioned. However, this rate could change annually.
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1 reply by Stanley Oranika
Mar 19, 2018 7:29 AM
Stanley Oranika
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Thank you Rami,This makes good sense
Thank you all for the answers. From the answers I have received, I am almost convinced that not one professional here has personally determined what they should charge for their time and input, either working as an entrepreneur or head of their PMO.
Mar 16, 2018 6:52 PM
Replying to Rami Kaibni
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In Construction & Real Estate Development, here is what we do:

1- Construction Management:

When we bid on a project, we do follow something called Division 16 - The first divsion is doe General Conditions that are called GC's (Those include all overheads like wages, vehicles, computers and so on).

2- Project Management Consulting:

When we bid on those projects, we attached a standardized rate by role like Kiron mentioned. However, this rate could change annually.
Thank you Rami,This makes good sense
Mar 16, 2018 1:13 PM
Replying to Kiron Bondale
...
Stanley -

The bank I currently work for has standardized rates by role & level which are used when estimating costs and tracking actuals. The rates don't change based on the type of project.

Kiron
Thank you Kiron

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