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Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
To date, there is not currently a professional qualification or regulatory body for civils estimating within the UK. As a consequence, the learning curve from a trainee estimator to senior estimator could be an undisclosed amount of time and largely falls into the responsibility of the employer and or senior estimator to determine time scale and progression of trainee estimators.
A construction general contractor or subcontractor must normally prepare definitive cost estimates to prepare bids in the construction bidding process to compete for award of the contract. Although many estimators participate in the bidding and procurement processes, those are not a necessary function of cost estimate preparation.
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 ...
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.
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 ...
The creation of an estimate requires the inclusion of the cost of labor, overhead, profit, and equipment. The construction documents will also play a major role in estimating. [3] Pre-construction services grew out of construction cost estimating to encompass the other activities in planning a project. [4]
"Cost engineering practitioners tend to be: a) specialized in function (e.g., cost estimating, planning and scheduling, etc.); b) focused on either the asset management or project control side of the TCM process; and c) focused on a particular industry (e.g., engineering and construction, manufacturing, information technology, etc) or asset ...
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