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Many construction cost estimators continue to rely primarily upon manual methods, hard copy documents, and/or electronic spreadsheets such as Microsoft Excel. While spreadsheets are relatively easy to master and provide a means to create and report a construction cost estimate and or cost models, their benefit comes largely from their ability ...
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.
Chemical plant cost indexes are dimensionless numbers employed to updating capital cost required to erect a chemical plant from a past date to a later time, following changes in the value of money due to inflation and deflation. Since, at any given time, the number of chemical plants is insufficient to use in a preliminary or predesign estimate ...
The BCIS "Standard Form of Cost Analysis" (SFCA) remained an industry staple, largely unchanged, until the late 2000s. In 2012 the "New Rules of Measurement" for cost management throughout the construction process were accompanied by a modernised version of the SFCA. [1] In 2022, the BCIS was spun out of RICS. [2]
Quantity take-offs (QTO) are a detailed measurement of materials and labor needed to complete a construction project. They are developed by an estimator during the pre-construction phase. This process includes breaking the project down into smaller and more manageable units that are easier to measure or estimate.
Involvement in the construction industry David Bucknall (1939 - 7 June 2015, aged 76), was a Partner of Bucknall Austin, later to be merged with Rider Hunt, and Levett and Bailey, to form Rider Levett Bucknall (RLB), a global construction and quantity surveying practice with 3,500 employees in 120 offices worldwide.
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
Elemental cost planning is a system of Cost planning and Cost control, typically for buildings, which enables the cost of a scheme to be monitored during design development. 1951 saw the publication of the Ministry of Education Building Bulletin No 4 which essentially introduced the concept of elemental cost planning to the UK construction ...
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