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A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable -oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown ...
A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable. See the executed contract agreement for ...
In project management, a schedule is a listing of a project 's milestones, activities, and deliverables. Usually dependencies and resources are defined for each task, then start and finish dates are estimated from the resource allocation, budget, task duration, and scheduled events. A schedule is commonly used in the project planning and ...
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
An " in-service " or " maintained as " specification, specifies the conditions of a system or object after years of operation, including the effects of wear and maintenance (configuration changes). Specifications are a type of technical standard that may be developed by any of various kinds of organizations, in both the public and private sectors.
Application. LSM is used mainly in the construction industry to schedule resources in repetitive activities commonly found in highway, pipeline, high-rise building and rail construction projects. These projects are called repetitive or linear projects. The main advantages of LSM over critical path method (CPM) is its underlying idea of keeping ...