Capital Planning Process: Project Management Fees
The project management fee is included in the project budget for all capital projects (projects > $25,000) to cover the costs associated with administering and managing a project at Iowa State University. These services are provided by the Design and Construction Services unit of FP&M. The income to support this unit is fully generated by charges for services and no general fund allocations are available to support the unit. A fee of 5% of the total project budget (but not less than $500) is assessed to each project $20,000,000 and less to fund the activities of this unit. The fees for projects greater than $20,000,000 are based on the fee chart below. Fees for projects $60,000,000 and above will be determined on a project by project basis depending on the specific characteristics, scope, and schedule for the project.
The services provided by the Design and Construction Services unit of FP&M include:
- Board of Regents documentation, approvals, and reporting
- Project conceptualization, development and management
- Management of design professional activities
- Management of contractor activities on campus
- Project technology systems (Project web site services, accounting systems, etc.)
- Solicitation of bids, advertisements, quotations and requests for proposals
- Construction site observations and document compliance
- Project Accounting including contractor, design professional, and vendor payments
- In-house work order accounting and payment
- Project purchasing activities including time and material contracts, purchase of owner furnished equipment, furniture purchasing and coordination of installation, and departmental equipment purchases.
- These services do not include the design fees for the project, whether they are provided by FPM design professionals or under contract from an outside firm.