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Many construction cost estimators continue to rely primarily upon manual methods, hard copy documents, and/or electronic spreadsheets such as Microsoft Excel. While spreadsheets are relatively easy to master and provide a means to create and report a construction cost estimate and or cost models, their benefit comes largely from their ability ...
A basis of estimate is an analyzed and carefully calculated number that can be used for proposals, bidding on government contracts, and executing a project with a fully calculated budget. [2]
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 ...
Every decision in the product development process affects cost: design is typically considered to account for 70–80% of the final cost of a project such as an engineering project [1] or the construction of a building. [2] In the public sector, cost reduction programs can be used where income is reduced or to reduce debt levels. [3]
The economy grew 2.4% in the second quarter, and while the Consumer Price Index rose slightly in September to 3.7%, ... As a result, the primary focus of companies is now cost reduction. Given the ...
1979, VisiCalc for Apple II with 32K RAM, the first widely used normal spreadsheet with A1 notation etc. 1980, SuperCalc for CP/M-80 operating system, included with early Osborne computers. 1982, ZX81 Memocalc, for low cost ~$100 personal computer with 16K RAM expansion, launched by Memotech in April 1982.
In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers. The cost breakdown analysis is a popular cost reduction strategy and a viable opportunity for businesses. [1] [2] [3]
A benefit–cost ratio [1] (BCR) is an indicator, used in cost–benefit analysis, that attempts to summarize the overall value for money of a project or proposal. A BCR is the ratio of the benefits of a project or proposal, expressed in monetary terms, relative to its costs, also expressed in monetary terms.