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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 ...
Chemical Engineering Index, CE: composed of 4 major components – for equipment and other bulk items, the others relevant to construction labor, buildings, and engineering and supervision – the index is employed primary as a process plant construction index, was established using a base period of 1957-1959 as 100. The CE Index is updated ...
Data requirements can also be identified in the contract via special contract clauses (e.g., DFARS), which define special data provisions such as rights in data, warranty, etc. SOW guidance of MIL-HDBK-245D describes the desired relationship: "Work requirements should be specified in the SOW, and all data requirements for delivery, format, and ...
Labor burdens, material costs, construction equipment costs, and, if applicable, subcontractor costs are also extended on the estimate detail form. [30] Other costs and pricing are added, such as overhead, profit, sales or use taxes, payment and performance bonds, escalation, and contingency. [31]
Equipment - (1) a category of cost for organizing and summarizing costs, (2) construction equipment used to execute the project work, (3) engineered equipment such as pumps or tanks. Escalation is defined as changes in the cost or price of specific goods or services in a given economy over a period. In estimates, escalation is an allowance to ...
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 ...
CSI publishes MasterFormat, which is a standardized classification for construction information, such as detailed construction project cost estimates or construction specifications. Since its debut under another title in 1963, MasterFormat consisted of 16 Divisions representing broad categories of construction, such as Masonry , Concrete ...
A bill of quantities is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized.It also (ideally) details the terms and conditions of the construction or repair contract and itemizes all work to enable a contractor to price the work for which he or she is bidding.