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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 ...
In one, referred to as "stock millwork", commodity fabricators mass-produce trims and building components—with the end product being low cost, interchangeable items for commercial or home builders. In another, the product is custom produced for individuals or individual building projects—usually a costlier option [ 4 ] which is referred to ...
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 ...
Trim/appearance package: May include special paint colors, upgraded interior trim pieces (often made from aluminum, chrome or timber), and exterior decals. In past decades, appearance packages have also included two-tone paint, pin striping , bumpers painted the same color as the vehicle body, and vinyl roof covers.
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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