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A cost index is the ratio of the actual price in a time period compared to that in a selected base period (a defined point in time or the average price in a certain year), multiplied by 100. Raw materials, products and energy prices, labor and construction costs change at different rates, and plant construction cost indexes are actually a ...
The cost overruns constituted 33% of the total expense. The budget for the bridge increased to 150%. The cost overruns exceeded the original budget by 50%. The final example is the most commonly used as it specifically describes the cost overruns exclusively whereas the other two describe the overrun as an aspect of the total expense.
For a small to medium project, the cost and time of hiring mixing equipment, labour, plus purchase and storage for the ingredients of concrete, added to environmental concerns (cement dust is an airborne health hazard) [10] may simply be not worthwhile when compared to the cost of ready-mixed concrete, where the customer pays for what they use ...
The United States loses almost 3 tons of topsoil per acre per year. [16] 1 inch (2.5 cm) of topsoil can take between 500 [17] and 1,000 years [18] to form naturally, making the rate of topsoil erosion a serious ecological concern. Based on 2014 trends, the world has about 60 years of topsoil left.
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 ...
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