Pricing summary

The Pricing summary is a register to record the total costs related to the issue that you potentially would propose to the client, should it become a change order. The Pricing summary is organized into Direct cost total, Vendor total (if you’ve added a vendor), and Indirect cost total.

The register is organized by five value types in order of precedence:

  • ROM (rough order of magnitude) –This is a quick rough estimate and is an estimation of a project’s level of effort and cost to complete

  • Estimate – Actual estimated price

  • Proposed – This is the price proposal given to a client. In most cases, the estimate can be the proposal (Proposed).

  • Agreed – Client agreed price

  • Contributed values – This is the value taken from the farthest to the right of all value types. For example, if there is a price in ROM and a price in Proposed, the Contributed value equals the Proposed price

If you have subtotals for each of these values, the Contributed value always takes the value furthest to the right. For example, if you have $12,000 in Estimate, and $9,000 in Agreed, the Contributed value is $9,000.

As another example of pricing, you have an issue for which you originally calculated a rough order of magnitude (ROM) of $1,000 for Labor. You then priced the issue in your estimating system and came up with an Estimate value of $800. Finally, you worked with the owner and came to an Agreed value of $500. You enter these values into the Labor fields.

You also have two lines of $100 each for Materials. One is a ROM, and one is an estimate. You do not have an Agreed price for Materials. Your subtotal value that is furthest to the right contributes to your Contributed values.

The values furthest to the right also contribute to the totals (such as the Direct Cost total) and the Current value.

Values shown in dimmed text are summary values from the cost item pricing page and are read-only. See Cost item pricing for more information about these items.