Santa Monica Proper Hotel project information Original project budget: $120,000.

Question

Santa Monica Proper Hotel project information Original project budget: $120,000.00 Original project duration:24 months Current project budget:$160,00.00 Current project duration:36 months Answer the following questions: What is the percentage of budget overage currently? What is the percentage of schedule overage currently? lf the contractor's fee (overhead and profit mark-up) for this project is 4%, how much fee should they have received under the original budget? How much fee will they receive under the current budget? lf there are 550 rooms, each selling for an average of $600.00 per night, how much revenue does the hotel owner stand to lose with the current projected schedule delay?

Explanation / Answer

Percent over budget = (Actual Expenses - Budgeted Amount) * 100

Budgeted Amount

= (160000 - 120000) * 100

120000

= 33.33%

Percentage of schedule overage = (Current Project Duration - Original Project Duration) * 100

  Original Project Duration

= (36-24) * 100

24

= 50%

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