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  2. Glossary of construction cost estimating - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_construction...

    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 ...

  3. Cost estimate - Wikipedia

    en.wikipedia.org/wiki/Cost_estimate

    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 ...

  4. Building estimator - Wikipedia

    en.wikipedia.org/wiki/Building_estimator

    A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works. Both estimators and quantity surveyors must have a background education ...

  5. The cost of these 5 construction materials grew the most in 2023

    www.aol.com/cost-5-construction-materials-grew...

    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.

  6. Uniformat - Wikipedia

    en.wikipedia.org/wiki/Uniformat

    Uniformat is a standard for classifying building specifications, cost estimating, and cost analysis in the U.S. and Canada. The elements are major components common to most buildings. The system can be used to provide consistency in the economic evaluation of building projects.

  7. Quantity take-off - Wikipedia

    en.wikipedia.org/wiki/Quantity_take-off

    With BIM quantity take-off can be conducted almost automatically given that the type of materials, their quantity and price is included in the model. [2] It is known that construction projects often run overtime and over budget and one of the reasons is lack of accuracy in quantity takeoff and estimates. [3] [2]

  8. Construction bidding - Wikipedia

    en.wikipedia.org/wiki/Construction_bidding

    Construction bidding is the process of submitting a proposal to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs .

  9. Construction estimating software - Wikipedia

    en.wikipedia.org/wiki/Construction_estimating...

    To prepare the bid, first a cost estimate is prepared to determine the costs and then establish the price(s). This involves reviewing the project's plans and specifications to produce a take-off or quantity survey, which is a listing of all the materials and items of work required for a construction project by the construction documents ...

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