To add a CM fee to a project, you will need to register it as a cost item in the Cost Tracker. Follow the steps below:
- Navigate to the Cost Tracker for the project.
- Click Add New Cost Item and enter a name such as 'CM fee'.
Note: We recommend being consistent in the naming of CM Fees across your projects for the best possible reporting.
- Click the arrow icon next to the cost item and select Add Contract.
- On the contract setup page:
- Enter $0 as the Total Contract Value.
- Click the toggle under Cost Breakdown to the OFF position.
- Select a vendor in the Vendor field.
- Click Continue.
- In the Contract Room, you will add the CM fee as a variation. See Add a Variation in Portfolio Financials. If you know the CM fee amount ahead of time, you can add it as one variation. Otherwise, you can continue to add variations to the CM fee total in increments.