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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 ...
(grade school, the grades) elementary school see also Grade Point Average: grade (other) (n.) a rating, degree, or level; (v.) to lay out in grades [US meaning generated grade separation and the idiom make the grade] slope, gradient, or elevation; also ground level ("at grade", "over grade"); hence grade crossing (UK: level crossing)
A cost estimate is often used to establish a budget as the cost constraint for a project or operation. In project management, project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering ...
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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.
The AIA and GSA agreed on a system and named it UNIFORMAT. The AIA included it in their practice on construction management, and the GSA included it in their project estimating requirements. In 1989, ASTM International began developing a standard for classifying building elements, based on UNIFORMAT. It was renamed to UNIFORMAT II. [2]
As cost estimating programs became more and more popular over the years, more advanced features, such as saving data for reuse, mass project-wide changes, and trade-specific calculations, have become available. [6] For example, programs that are designed for building construction, include libraries and program features for traditional builders.
In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.
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