Factor Methods allow you to calculate your factor based on specific criteria.
When you set up your factor, you can select from the following Factor Methods.
What do each of those methods mean?
% of Equipment Price:
This is calculated based on the total equipment price in your project.
If the total equipment price in your project is $1,000, and you add a factor with a cost of 5% and a price of 10%, the factor cost will be $50 and the factor price will be $100.
% of Equipment Cost
This is the same as above, but based on the cost of your equipment (cost to you), rather than price to the client.
% of Labor Price
This is calculated based on a percentage of the total Labor Price on your project.
% of Equip & Labor
This is calculated based on the combined total of the Equipment and Labor Price on your project.
Price per Day of Labor
This is calculated based on how many days of labor are on your project. Jetbuilt calculates the number of Days of Labor based on your hours of labor and crew size. (You can adjust your crew size and number of hours/day in the Labor Breakdown on the Overview page.)
If your project has 10 days of labor, and you use this method to add $100 (price) and $50 (cost) per day of labor, then your factor total will be $1,000 (price) and $500 (cost).
Hours per Day of Labor
This is similar to the method above, but instead of adding a price for each day of labor, you are adding additional hours of labor for each day of labor in the project.
For example, if you require 8 hours of Management labor for every day of Installation labor in your project, you can use this method to add that. The factor cost/price will then be calculated based on your Labor Rate. If you have more questions about this method, please take a look at this article, which helps break it down in more detail.
Flat Price (set in project)
The most straightforward of all of the factor types - the Flat Price allows you to set your own Cost/Price for a factor, and it will not be affected by any of the other values in your project. You can set a default price when you create the factor, but you can also adjust that price within the project itself as needed.
This allows you to add travel expenses like hotels and flights with a factor based on the number of people in your crew, and the number of days in your trip.
For example, if you have a crew of 5 and you need to add hotel rooms for each of them for the duration of the install process, just enter the number of days and the cost/price for the hotel room. Trip Calculator will then add the total amount as a travel Factor.
We hope this helps! Please reach out to us in support chat if you have any questions 🙂