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A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable.
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
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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Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
The shop drawing should address the appearance, performance, and prescriptive descriptions in the specifications and construction drawings. [2] The shop drawing often is more detailed than the information shown in the construction documents to give the architect and engineer the opportunity to review the fabricator’s version of the product ...
An electrical drawing is a type of technical drawing that shows information about power, lighting, and communication for an engineering or architectural project.Any electrical working drawing consists of "lines, symbols, dimensions, and notations to accurately convey an engineering's design to the workers, who install the electrical system on the job".
An electrical code is a term for a set of regulations for the design and installation of electrical wiring in a building. The intention of such regulations is to provide standards to ensure electrical wiring systems are safe for people and property, protecting them from electrical shock and fire hazards. They are usually based on a model code ...