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Dear Friends
Today I got a new thumb rule from my manager
That is 22% of the project cost is the Budgeted manhour.
Is this statement is correct .Please help me my dear friends...
Regards
Arun Vasanth
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Arun,
Its cost, i.e. divide by presumed hourly rate gives hours. As Anning said, take it for what it is. A rough rule of thumb when no other methods of estimation are available.
Cheers,
Chris Hall
Dear Friends
I am not getting his logic...
Both are different units..
If the 22 % of project cost is Manhour cost then it is ok...
How the 22% of cost will be the manhour??????
Dont take the rule of thumb seriously.. just take it for what it is worth..
Arun,
It depends on where and what the project is. We use a 'rule of thumb' from 60/40 - 70/30 for general construction projects. Different ratios for offshore, regional, energy & mining and of course if the project has IEP requirements.
Regards,
Chris Hall
Email: PPadmin@planningplanet.com
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