Hiring a construction manager costs an average of $25,169, or between $3,142 and $52,483. Their fee make up 5% to 15% of the project total, though this percentage decreases for larger projects.
What is the going rate for a construction project manager?
Hourly Wage for Project Manager – Construction Salary
|Percentile||Hourly Pay Rate||Location|
|25th Percentile Project Manager – Construction Salary||$45||US|
|50th Percentile Project Manager – Construction Salary||$52||US|
|75th Percentile Project Manager – Construction Salary||$58||US|
|90th Percentile Project Manager – Construction Salary||$64||US|
What is a reasonable project management fee?
Based on the above estimates, the combined project management costs for all phases of a project total somewhere between 7–11 percent of the project’s TIC. If project controls support is added, project management costs will be in the 9–15 percent range.
What is a typical construction management fee?
A construction manager is an alternative to hiring a general contractor. … A typical fee of 10 to 15 percent would translate, on a job with a time and materials cost of $50,000, to a construction management fee of $5,000 to $7,500 for the manager’s services.
How much does a project manager charge per hour?
According to Salary.com, the average hourly rate for project manager consultants is between $59 to $74 per hour, with the median hourly wage being $66.00. On the freelancer site Upwork, the project manager hourly rate charged by consultants varies widely and is between $30 – $155 per hour.
What does a project manager cost?
For projects from $0 – $500,000, the project management fee totals 5%. So, for a $100,000 project, you would expect to pay the project manager $5,000. As the cost of the project goes up, the percentage-based fee decreases.
Is construction manager a good career?
Construction management is a promising career with growing job opportunities. According to the BLS, employment of construction managers is projected to grow 11 percent from 2016 to 2026, faster than the average for all occupations.
How do you bill a project manager?
Project managers may work as self-employed consultants or for a consulting firm that places them with clients. Several ways exist to charge for project management including invoicing an hourly rate, flat rate per project, retainer or consulting fee, or in phases of project completion.
How many projects can a project manager handle?
The number of projects a person can handle simultaneously is a relevant factor in strategic planning and in project portfolio management. Internationally the de facto standard seems to be that a person should not work on more than two or three projects simultaneously; but several factors could influence this figure.
How do I hire a project manager?
How do you hire a project manager who will drive your company forward?
- Listen carefully.
- Plan large scopes of work as well as schedule daily tasks.
- Prioritize the tasks at hand.
- Practice creative problem solving.
- Identify and manage project risk.
- Provide helpful feedback to clients and production teams.
- Lead teams to success.
What percentage does a builder charge?
In our experience, the national average for contractor fees is 15% of the estimated construction cost of the home, but it can range from 6% to 25% depending on the specifics of the project.
Do construction managers build houses?
Construction managers coordinate and schedule design and construction processes in the building of office complexes, residential homes, and industrial structures. They may be involved in the construction of highways, bridges, schools and hospitals.
Who hires construction managers?
About two-thirds of American construction managers are self-employed, and are hired by clients because they have appropriate work experience and, increasingly, at least a bachelor’s degree in a construction-related field [source: Bureau of Labor Statistics].
How much should I charge as a freelance project manager?
The average freelance digital project manager contractor rate presented a small increase compared to last year’s results, varying from $150 to $800 a day. It is important to remember that those rates are highly dependent on other variables such as experience, industry, and location.
How many hours do project managers work?
|Position||Expected Hours||Actual Hours Worked|
|Project Manager (Intermediate)||37||37|
|Project Management Specialist||9||9|
|Project Team Member||50||50|
|Project Management Consultant||7||7|
What do project managers do?
In the broadest sense, project managers (PMs) are responsible for planning, organizing, and directing the completion of specific projects for an organization while ensuring these projects are on time, on budget, and within scope.