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A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract. Some architects, engineers, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
The model then provides as output various resources requirements in cost and time. Some models concentrate only on estimating project costs (often a single monetary value). Little attention has been given to the development of models for estimating the amount of resources needed for the different elements that comprise a project. [1]
PRICE Systems’ cost estimating software was first developed in the 1970s when David Shore, a vice president in RCA's Government Group discovered that Frank Freiman, in the purchasing department, was able to predict the cost of military new systems with considerable accuracy before design was completed and a parts breakdown was available for ...
The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.
List of structural engineering software; Power engineering software - software for power stations, overhead power lines, transmission towers, electrical grids, grounding, electrical substations, and Lightning; List of discrete event simulation software - Discrete-event simulation; List of computer algebra systems - Computer algebra system
A pivot table in BOEMax, a Basis of Estimate software package. To create a BOE companies, throughout the past few decades, have used spreadsheet programs and skilled cost analysts to enter thousands of lines of data and create complex algorithms to calculate the costs. These positions require a high level of skill to ensure accuracy and ...
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A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
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