Search results
Results from the WOW.Com Content Network
Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
Balancing is the methodical regulation of system fluid flows (air or water) through the use of acceptable procedures to achieve the desired or specified design airflow or water flow. When beginning the balance of a system, you must locate the terminal with the least amount of flow in regards to the engineer's drawing.
The plan–do–check–act cycle is an example of a continual improvement process. The PDCA (plan, do, check, act) or (plan, do, check, adjust) cycle supports continuous improvement and kaizen. It provides a process for improvement which can be used since the early design (planning) stage of any process, system, product or service.
Over the course of any construction project, the work scope may change. Change is a normal and expected part of the construction process. Changes can be the result of necessary design modifications, differing site conditions, material availability, contractor-requested changes, value engineering, and impacts from third parties, to name a few.
Business Process Modelling. The following examples illustrate the variety of workflows seen in various contexts: In machine shops, particularly job shops and flow shops, the flow of a part through the various processing stations is a workflow. Insurance claims processing is an example of an information-intensive, document-driven workflow. [21]
"And that’s where it’s at. He's a great person, phenomenal human being. Like I said, not ever losing faith or trust in him. We're going through a process right now, and that’s where it’s ...
The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. EPC companies are often used in large-scale projects, such as power plants, refineries, chemical processing facilities, infrastructure projects, and ...