Key Definitions
Quantity (Qty) Column is typically used for for the number of units there would be. Ex. 1 is the "Qty" and "Day" is the unit, thus, there is 1 day accounted for this line.
Multiplier (X) Column is typically used for if you have more than one of that cost to include for the same Qty of Units. Ex. If you had 2 Line producers for the same amount (aka QTY) of days (aka Unit), you would put the Multiplier or X as 2.
Base Hours stands for the standard amount of regular (non-overtime hours) hours per the Unit, which is usually in this case, the Day.
Overtime Rate is used to set up your overtime settings by additional hours that exceed the standard base hours in a day.
Set Default Overtime Calculations:
Open Overtime Configuration: Navigate to the budget table of your project and locate the Overtime Column. Click the dropdown arrow on the column header to configure your overtime settings. Make sure that the columns "Multiplier" and "Qty" are included.
Specify Base Hours: Define the base number of hours that the original day rate is calculated upon. This is crucial for accurate overtime estimations.
Specify Overtime Rates: Define the overtime rates for hours past the base hours per day. This is crucial for accurate overtime estimations.
Set Line Item Overtime Calculations:
Open Overtime Calculator: Double-click on the Overtime cell in the line item you want to calculate overtime for. This will open the Overtime Calculator pop-up.
Input Overtime Hours: Enter the number of Overtime Hours you need to calculate beyond the standard work hours. For example, if you have someone working 10 days but standard day rate is 8 hours, enter "2" in the Overtime hours field.
Note: If needed, in this pop up, you can adjust the Overtime Configuration per line time if it is different between lines.
Note: You also have the option to insert a flat cost within Overtime Amount.
Reviewing Calculated Overtime:
Once you've configured the fields, the total estimated overtime payment will display in the calculator. This total reflects the cumulative cost based on your inputs and the set multipliers.
You can apply settings across multiple cells by dragging down from the desired cell to others or copying and pasting the formula where similar overtime conditions occur.
Note: When you duplicate a phase, remember to review the header configuration to make sure the desired rates are set. If you don't do this, there is a risk of your amounts differing.
Tips for Effective Overtime Management:
Stay Informed on Overtime Laws: Overtime regulations can vary significantly between locations. Ensure you're up to date on the laws applicable to your project's locale to configure the calculator accurately.
Regularly Update Overtime Estimates: As project schedules and workloads shift, revisit your overtime calculations to adjust for any changes, maintaining accuracy in your budget forecasts.
Utilize Batch Processing: For line items with identical overtime conditions, use the copy and paste functionality to apply the same calculator settings efficiently, saving time in manual data entry.
FAQs:
Q: Can I customize the overtime multipliers for different roles?
A: The Overtime Calculator allows for customization based on hours and multiplier thresholds. For role-specific rates, ensure you adjust the calculator settings individually to reflect accurate rates.
Q: How does the calculator handle varying state laws on overtime?
A: The flexibility of the calculation configuration in the Overtime Calculator is designed to accommodate different state laws regarding overtime. Adjust the amounts to match the legal requirements of your project's location.
Q: Is there a way to export the overtime calculations?
A: Yes, overtime calculations can be included in your budget table exports, allowing you to analyze and present the data externally as needed.