Labour Burden
Is the cost of payroll taxes and insurances (such as workers’ compensation) which the employer must pay to employ workers.
Labour Constant
A measured amount of work that can be completed in one hour i.e. 12 m2 of paint per hour(labour).
Labour Rate
The amount of currency per unit of time which is required to employ people (workers, crafts, trades, etc.) as laid
Lead Time
A lead time is the latency between the initiation and execution of a process. For example, the lead time between
Life Cycle Costing
The process of evaluating the total cost of a construction project over its entire life cycle, from design to demolition.
Liquidated Damages
Damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation
Loss and Expense
Additional costs arising from delays to programme or the disruption to the performance of the contract works.
Lump Sum
The traditional means of procuring construction, and still the most common form of Construction Contract. Under a lump sum contract,
Main Contractor (or Prime Contractor)
The primary/principal contractor appointed by the client to coordinate the construction/site production phase of a project, which may involve more
Main Contractor’s Overheads and Profit
The main contractor’s costs associated with head office administration proportioned to each building contract plus the main contractor’s return on
