Accurately accounting for the cost of your equipment is essential when bidding a project. If you over-estimate your equipment cost, your bid will probably be too high. Under-account for equipment and you’ll be damaging your bottom line. But determining the proper internal charge rate for your equipment is complicated, since there are lots of factors to take into account from purchase price to liquidation price, from operator wages to mechanic wages, and even the cost of fuel.
In this session from the recent WOC360 Virtual Industry Forum, you will learn what things to account for and how to take them all into account. Tom Christerson of EquipmentWatch will also discuss how to decide when to rent or own equipment and when the best time is to divest of equipment. If you haven’t registered yet for the Forum, you’ll need to do that, but it’s FREE; then click on the tile that says Making Advanced Decisions About Your Equipment.