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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 ...
[1] Geometric dimensioning and tolerancing has provided geometrically defined, quantitative ways of defining flatness operationally. Flatness deviation may be defined in terms of least squares fit to a plane ("statistical flatness") or worst-case (the distance between the two closest parallel planes within). It can be specified for a given area ...
The Pareto priority index (PPI) [1] is an index used to prioritize several (quality improvement) projects. It is named for its connection with the Pareto principle named after the economist Vilfredo Pareto. It is especially used in the surroundings of Six Sigma projects. It was first established by AT&T.
Lapping machine. Lapping is a machining process in which two surfaces are rubbed together with an abrasive between them, by hand movement or using a machine. Lapping often follows other subtractive processes with more aggressive material removal as a first step, such as milling and/or grinding. Lapping can take two forms.
Building construction often is resource-intensive. Material efficiency is a description or metric (( M p) (the ratio of material used to the supplied material)) which refers to decreasing the amount of a particular material needed to produce a specific product. [ 1 ]
The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received. The primary purpose ...
Calculation of Point of Total assumption (the case when EAC exceeds PTA that should be treated as a risk trigger, is shown) The point of total assumption (PTA) is a point on the cost line of the profit-cost curve determined by the contract elements associated with a fixed price plus incentive-Firm Target (FPI) contract above which the seller effectively bears all the costs of a cost overrun.
It is a value-added [1] process involving the creation of machines, parts, and structures from various raw materials. Typically, a fabrication shop bids on a job, usually based on engineering drawings, and if awarded the contract, builds the product. Large fab shops employ a multitude of value-added processes, including welding, cutting ...