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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 ...
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
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.
[25] ASPE recommends the "quantity times material and labor costs format" [27] for the compilation of the estimate. This format is illustrated in the handwritten spreadsheet sample. For labor, the estimator should, "Determine basic production rates and multiply them by the units of work to determine total hours for the work."
In many industries, such as engineering and construction, the development and maintenance of the project schedule is the responsibility of a full-time scheduler or team of schedulers, depending on the size and the scope of the project. The techniques of scheduling are well developed [1] but inconsistently applied throughout industry.
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 ...
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Elemental Cost Planning relies upon the adoption of a Standard Form of Cost Analysis for buildings which allows costs to be compared on a common format and forms the basis of the benchmarking analysis central to the concept of Elemental Cost Plans. It should :-