Within FEMA Public Assistance grants, applicants may apply for work already completed or work to be completed in the future. Cost estimating is the method FEMA uses to calculate reimbursement for work that has not been completed at the time of the request. The project is broken down into distinct elements called units based on what is needed to complete the work. The cost estimate submitted for each unit includes labor, equipment, and material costs already ‘baked in’ to it.
Another way to approach cost estimating is to use commercially available guides from local vendors. For especially large projects, it may be necessary to estimate labor, materials, and equipment seperately. The applicant would provide verification using timesheets, payroll information, equipment usage records, receipts, invoices, work orders, and the like.
It sounds tedious, doesn’t it? It can be, but the Hagerty professionals who work on cost estimating like nothing better than getting deep into the weeds and helping clients apply for every justifiable expense. We’ve done it for countless jurisdictions, and we can do it for you, too.