What should a contractor consider besides the cost of equipment needed for a project?

When embarking on a project, a contractor must consider not just the initial cost of the equipment, but also the ongoing operating and maintenance expenses associated with that equipment. These expenses can significantly impact the overall budget and profitability of the project.

Operating costs may include fuel, utilities, and labor required to operate the equipment, while maintenance expenses cover routine service, repairs, and parts replacement to ensure that tools and machinery function efficiently throughout the project's duration. By taking these factors into account, a contractor can create a more accurate and comprehensive financial plan, ultimately leading to better decision-making regarding resource allocation and project execution.

Evaluating only repair costs or rental costs would provide an incomplete picture of the financial implications of using specific equipment over time, neglecting important aspects like daily operating costs and regular maintenance that are critical for project success. Thus, focusing on comprehensive operating and maintenance expenses ensures that a contractor adequately prepares for the financial scope of a project.