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A bill of quantities is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized.It also (ideally) details the terms and conditions of the construction or repair contract and itemizes all work to enable a contractor to price the work for which he or she is bidding.
A bill of materials or product structure (sometimes bill of material, BOM or associated list) is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and the quantities of each needed to manufacture an end product. A BOM may be used for communication between manufacturing partners or confined to a single ...
Bill of materials (BOM) - a list of materials required for the construction of a project or part of a project, which may include quantities. Bill of quantities (BOQ) - a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. It also (ideally) details the terms and conditions ...
For instance, a bill of quantities is a list of all the materials (and other work such as amount of excavation) of a project which have sufficient detail to obtain a realistic cost, or rate per described item of work/material.
This form of document contrasts with that of bills of quantities in which such tendering and estimation is limited to the materials in the completed work. Operational bills have the advantages of enhancing communication between design and production, enabling realistic tender pricing, and making the preparation of critical-path analysis easy ...
A material take off (MTO) is the process of analyzing the drawings and determining all the materials required to accomplish the design. Thereafter, the material take off is used to create a bill of materials (BOM). Procurement and requisition are activities that occur after the bill of materials is complete, distinct from Inspection.
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.
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