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LEVEL RESORT, CASINO & SPA HARD AND SOFT COST SUMMARY CONSTRUCTION BUDGET INSERT For EXHIBIT VIII. C.2.c Major Scope Categories Totals Construction Hard Costs (per Fishman Construction 1. Demolition
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How to fill out hard and soft cost
How to fill out hard and soft cost:
01
Identify all the direct costs associated with the project, such as labor, materials, equipment, and any other expenses directly related to the project's implementation. These costs are categorized as hard costs.
02
Estimate the indirect costs that are not directly tied to the project but still necessary for its success, such as project management, permits, insurance, and legal fees. These costs fall under the soft costs category.
03
Break down the hard and soft costs further by assigning specific amounts or percentages to each item. This will help in creating a comprehensive budget for the project.
04
Review any cost assessments or estimates provided by subcontractors or vendors. Ensure all costs are accounted for and appropriately allocated between hard and soft costs.
05
Regularly monitor and update the hard and soft cost breakdown throughout the project's duration. This will help in managing expenses and making necessary adjustments as needed.
Who needs hard and soft cost:
01
Construction companies and contractors require an understanding of hard and soft costs to accurately bid on projects and manage their budgets effectively.
02
Project owners and developers need to comprehend the breakdown of hard and soft costs to validate project feasibility, secure financing, and make informed decisions during the project's lifecycle.
03
Financial institutions and lenders rely on hard and soft cost information to assess risk, determine loan amounts, and evaluate the project's potential profitability.
04
Real estate professionals and investors utilize hard and soft cost analysis to assess market competitiveness, establish property values, and make investment decisions.
05
Government agencies and regulatory bodies may require a breakdown of hard and soft costs to ensure compliance with relevant laws, regulations, and standards.
Remember, filling out hard and soft costs accurately and comprehensively is crucial for effective project planning, budgeting, and decision making.
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