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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 often used to establish a budget as the cost constraint for a project or operation. In project management, project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering ...

  4. Glossary of civil engineering - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_civil_engineering

    Also Abrams' water-cement ratio law. A law which states that the strength of a concrete mix is inversely related to the mass ratio of water to cement. As the water content increases, the strength of the concrete decreases. abrasion The process of scuffing, scratching, wearing down, marring, or rubbing away a substance or substrate. It can be intentionally imposed in a controlled process using ...

  5. Cost engineering - Wikipedia

    en.wikipedia.org/wiki/Cost_engineering

    Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]

  6. Cost database - Wikipedia

    en.wikipedia.org/wiki/Cost_database

    The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.

  7. Glossary of project management - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_project_management

    In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. Cost engineering is the area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of cost estimating, cost control, business ...

  8. Estimation - Wikipedia

    en.wikipedia.org/wiki/Estimation

    Estimation (or estimating) is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available. [ 1 ]

  9. 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.