Project Management Fees
The capital project fee is included in the project budget for all capital projects (generally projects > $100,000) to cover the costs associated with administering and managing a capital project at Iowa State University. These services are provided by the Design and Construction Services and University Architect units of FP&M.
The Capital Project Fee is based on the total project budget and ranges from 5% down to 2.5% of the project budget as indicated in the Capital Project Fee Chart below. Fees for projects $80,000,000 and above will be reviewed and adjusted if appropriate based on the specific characteristics, scope, and schedule for the project.
The services provided by the Design and Construction Services and University Architect units of FP&M include:
- Board of Regents documentation, approvals, and reporting
- Project feasibility studies
- Project conceptualization, development and management
- Selection of professional consultants and management of their activities and services
- Solicitation of bids, advertisements, quotations and requests for proposals
- Management and coordination of construction activities on campus
- Construction site observations and document compliance
- Contract administration and project accounting including contractor, design professional, and vendor payments
- In-house work order accounting and payment
- Development and maintenance of design standards
- Project technology systems (project website services, accounting systems, etc.)
- Project purchasing activities including time and material contracts, purchase of owner furnished equipment, furniture purchasing and coordination of installation
A minimum fee of $1,000 is assessed to projects that require University, Board Office, or Board of Regents approval or reporting only and no administration or management services.