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the cost borne by the voters of a politician's district (the principals) when the politician (the agent) passes legislation helpful to large contributors to their campaign rather than the voters. [3] Though effects of agency cost are present in any agency relationship, the term is most used in business contexts.
The agency CM can represent the owner by helping select the design and construction teams and managing the design (preventing scope creep), helping the owner stay within a predetermined budget with value engineering, cost-benefit analysis and best-value comparisons.
Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. 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 ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
The Healthcare Cost and Utilization Project (HCUP, pronounced "H-Cup") is a family of healthcare databases and related software tools and products from the United States that is developed through a Federal-State-Industry partnership and sponsored by the Agency for Healthcare Research and Quality (AHRQ).
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
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