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A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
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 company's feature incorporate a network of pipes with more than 1,200 individually programmed nozzles that make it possible to stage fountain displays coordinated with more than 4,500 lights. It is estimated that the Fountains cost $40 million to build. The nozzles are synchronized to music and shoot water up to 240 feet in the air. [4]
Various sized cuts of 1 ⁄ 2 in (13 mm) drywall with tools for maintenance and installation . 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 ...
Similarly, if the third kilogram of seeds yields only a quarter ton, then the marginal cost equals per quarter ton or per ton, and the average cost is per 7/4 tons, or /7 per ton of output. Thus, diminishing marginal returns imply increasing marginal costs and increasing average costs. Cost is measured in terms of opportunity cost. In this case ...
The theory of median-unbiased estimators was revived by George W. Brown in 1947: [8]. An estimate of a one-dimensional parameter θ will be said to be median-unbiased, if, for fixed θ, the median of the distribution of the estimate is at the value θ; i.e., the estimate underestimates just as often as it overestimates.
The passive nuclear safety systems in an ESBWR operate without using any pumps, which creates increased design safety, integrity, and reliability, while simultaneously reducing overall reactor cost. It also uses natural circulation to drive coolant flow within the reactor pressure vessel (RPV); this results in fewer systems to maintain, and ...