Valuation setups

Valuation setups are the basis for job estimation details and valuation details. Each valuation setup defines rules for calculating the cost of a particular part of a construction job, such as pouring a concrete slab or framing a room.

Each valuation setup specifies a type of construction, known as a use group, a construction material, and a multiplier that will be used to calculate the cost of construction. A valuation setup also includes a valuation modifier, which is used to adjust the construction cost based on the market price of a specific location.

For example, you might create valuation setups for brick residential structures, brick fireplaces, and timber-frame residential structures.

Members of your agency use valuation setups as the basis for job estimation details and valuation details, which represent the material and labor costs for individual construction items within a job. Infor Public Sector calculates these costs using this equation:

valuation = multiplier X valuation modifier X measure

The result is the calculated valuation for that detail. Infor Public Sector adds the calculated valuations from each detail to produce a total calculated valuation that is displayed either in the job estimate or in the application. Job estimates calculate a job's estimated costs, and applications calculate the job's actual costs.