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Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
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 ...
The latest officially released version of MasterFormat is the 2018 Edition, which uses the following Divisions: PROCUREMENT AND CONTRACTING REQUIREMENTS GROUP:
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]
The following is a list of trades in construction. Bell hanger installs mechanical and electrical bell systems; Boilermaker, works in nuclear, oil and gas industry, shipyards, refineries, and chemical plants, on boilers, pressure vessels, and similar equipment. Carpenter, a craftsperson who performs carpentry, building mainly with wood. [1]
Bid solicitation is the process of making published construction data readily available to interested parties, including construction managers, contractors, and the public. There are several services, including government entities and private plan rooms, that allow project owners to release project details to solicit and obtain contractor bids.
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. The ...
Similar cost and time savings were found in a comparison study of design–build, and design-bid-build for the water/wastewater construction industry, a peer-reviewed paper authored by Smith Culp Consulting that will be published in July 2011 by the American Society of Civil Engineers. [17]