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Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.
Pole building design was pioneered in the 1930s in the United States originally using utility poles for horse barns and agricultural buildings. The depressed value of agricultural products in the 1920s, and 1930s and the emergence of large, corporate farming in the 1930s, created a demand for larger, cheaper agricultural buildings. [2]
A pivot table in BOEMax, a Basis of Estimate software package. To create a BOE companies, throughout the past few decades, have used spreadsheet programs and skilled cost analysts to enter thousands of lines of data and create complex algorithms to calculate the costs. These positions require a high level of skill to ensure accuracy and ...
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 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 phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
Front-end loading (FEL), also referred to as Front End Planning (FEP), pre-project planning (PPP), feasibility analysis, conceptual planning, programming/schematic design and early project planning, is the process for conceptual development of projects in processing industries such as upstream oil and gas, petrochemical, natural gas refining, extractive metallurgy, waste-to-energy ...
IEC 61646 Thin-film terrestrial photovoltaic (PV) modules – Design qualification and type approval (Withdrawn, replaced by IEC 61215) IEC 61649 Weibull analysis; IEC 61650 Reliability data analysis techniques – Procedures for comparison of two constant failure rates and two constant failure (event) intensities