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Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. 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.
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 ...
Labor burdens, material costs, construction equipment costs, and, if applicable, subcontractor costs are also extended on the estimate detail form. [30] Other costs and pricing are added, such as overhead , profit , sales or use taxes, payment and performance bonds, escalation , and contingency .
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 ...
It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1] [2] [3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical Engineering magazine in 1947 as a method for estimating the total installation cost for plants and equipment.
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In the direct labor cost we need to have the job time and wage we will pay it to the worker to calculate the direct labor cost as in this formulation: [1] - = Depending on the context, there are various methods to calculate personnel costs, such as on an hourly or daily basis.
Various sized cuts of 1 ⁄ 2 in (13 mm) drywall with tools for maintenance and installation . Drywall (also called plasterboard, dry lining, [1] wallboard, sheet rock, gib board, gypsum board, buster board, turtles board, slap board, custard board, gypsum panel and gyprock) is a panel made of calcium sulfate dihydrate (), with or without additives, typically extruded between thick sheets of ...
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