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K – Is used as an abbreviation for 1,000. For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
In an effort to assist industry professionals with the selection of appropriate project delivery systems, construction management researchers have prepared a Procurement Method and Contract Selection Model, which can be used for high level decision making for construction projects on a case-by-case basis. [3]
Business model is a profit-producing system that has an important degree of independence from the other systems within an enterprise. Business analysis is the set of tasks, knowledge, and techniques required to identify business needs and determine solutions to business problems. Solutions often include a systems development component, but may ...
An abbreviation used in parts lists (PLs, LMs, BoMs) in the quantity-per-assembly field when a discrete count is not applicable. For example, in an assembly with a bolted joint using four bolts, the PL quantity column will say "4" for the bolt PN, "4" for the nut PN, and "AR" for the liquid threadlocker that will be applied.
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 ...
Business Process Model and Notation (BPMN) is a graphical representation for specifying business processes in a business process model. Originally developed by the Business Process Management Initiative (BPMI), BPMN has been maintained by the Object Management Group (OMG) since the two organizations merged in 2005.
Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project.