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The most current incarnation of the URAR is the Fannie Mae Form 1004 [1] updated for March 2005. It is considered a full appraisal with all three approaches to value, cost approach, sales comparison approach, and income approach. [2]
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 ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
In residential and commercial buildings, these elements are often designed by specialized MEP engineers. MEP's design is important for planning, decision-making, accurate documentation, performance- and cost-estimation, construction, and operating/maintaining the resulting facilities. [1]
The model then provides as output various resources requirements in cost and time. Some models concentrate only on estimating project costs (often a single monetary value). Little attention has been given to the development of models for estimating the amount of resources needed for the different elements that comprise a project. [1]
Structural engineering is a sub-discipline of civil engineering in which structural engineers are trained to design the 'bones and joints' that create the form and shape of human-made structures. Structural engineers also must understand and calculate the stability , strength, rigidity and earthquake-susceptibility of built structures for ...
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 original distinction between structure and reduced-form was between the underlying system and the direct relationship between observables implied by the system. Different combinations of structural parameters can imply the same reduced-form parameters, so structural estimation must go beyond the direct relationship between variables. [3] [5]