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This involves reviewing the project's plans and specifications to produce a take-off or quantity survey, which is a listing of all the materials and items of work required for a construction project by the construction documents. Together with prices for these components, the measured quantities are the basis for calculation of the direct cost.
This may be called costing or pricing. In estimating for contracting, the cost is what something costs you to build, and price is what you charge another party for building it. RSMeans refers to this as, "Price the quantities." [25] ASPE recommends the "quantity times material and labor costs format" [27] for the compilation of the estimate ...
A price index aggregates various combinations of base period prices (), later period prices (), base period quantities (), and later period quantities (). Price index numbers are usually defined either in terms of (actual or hypothetical) expenditures (expenditure = price * quantity) or as different weighted averages of price relatives ( p t ...
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 ...
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 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
The construction documents, specifically the technical specifications, require the contractor to submit product data, samples, and shop drawings to the architect and engineer for approval. This is one of the first steps that is taken by the contractor after execution of the construction contract and issuance of the "Notice to Proceed".
Drywall (also called plasterboard, dry lining, [1] wallboard, sheet rock, gib board, gypsum board, buster board, turtles board, slap board, custard board, gypsum panel and gyprock) is a panel made of calcium sulfate dihydrate , with or without additives, typically extruded between thick sheets of facer and backer paper, used in the construction ...