Proposed Budget:

 

1. Discuss part suppliers, substantive costs and sequence or buying issues: By far the largest cost in this project will be the raw materials going into its construction, which is a result of a large portion of the materials used being either proprietary hardware, like concrete anchors, or stock material only sold in large quantities, like plate stock sold by the square foot.
    

2. Determine labor or outsourcing rates & estimate costs: Estimated labor costs are roughly $20 dollars per hour, with an estimated maximum of 15 hours of labor for fabrication and construction of the crane. This results in $300 of the budget going toward labor of the crane itself.
    

3. Estimate total project cost: The budget for this crane is roughly the same as it would be to purchase a standard jib crane, because if this project cannot be completed within that cost band, there would be no point in the project to begin with.

 

Funding source: All funding comes from Lewis Field Service, the company that has commissioned this project.

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For more information on the specifics of the budget and schedule, click here.