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A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract. Some architects, engineers, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
In estimating for contracting, the cost is what something costs you to build, and price is what you charge another party for building it. RSMeans refers to this as, "Price the quantities." [ 25 ] ASPE recommends the "quantity times material and labor costs format" [ 27 ] for the compilation of the estimate.
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 COVID-19 pandemic caused a 39.6% spike in overall input construction costs since February 2020, according to an Associated Builders and Contractors analysis of BLS PPI data.
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Soft Cost is a construction industry term but more specifically a contractor accounting term for an expense item that is not considered direct construction cost. Soft costs include architectural, engineering, financing, and legal fees, and other pre- and post-construction expenses. [ 1 ]
The 15th century wooden framed building was moved on rails around 100 yards (91 m) up a 1:10 hill, and became known as The House That Moved. [15] The Cudecom Building in Bogotá, Colombia (Weight 7,000 Metric Tons, Distance Moved: 95 Feet); was moved in October 1974 using Steel Rollers. The 8 story building was moved westward to build an avenue.
The pocket-sized Hewlett-Packard HP-35 scientific calculator was the first handheld device of its type, but it cost US$395 in 1972. This was justifiable for some engineering professionals, but too expensive for most students. Around 1974, lower-cost handheld electronic scientific calculators started to make slide rules largely obsolete.
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