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Glossary Of Construction Cost Estimating
The following is a glossary of terms relating to construction cost estimating. __NOTOC__ 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, qualifications, assumptions, inclusions, and exclusions. * 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 of the construction or repair contract and itemises all work to enable a contractor to price the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Estimate
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 estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professionals such as quantity surveyors and cost engineers may also prepare cost estimates or contribute to cost estimates. In the US, according to the Bureau of Labor Statistics, there were 185,400 cost estimators in 2010. There are around 75,000 professional quantity surveyors working in the UK. Overview The U.S. Government Accountability Office (GAO) defines a cost estimate as "the summation of individual cost elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deliverable
A deliverable is a tangible or intangible good or service produced as a result of a project that is intended to be delivered to a customer (either internal or external). A deliverable could be a report, a document, a software product, a server upgrade or any other building block of an overall project.Cutting, Thomas.Deliverable-based Project Schedules: Part 1. PMHut.com (Last accessed 8 November 2009). A deliverable may be composed of multiple smaller deliverables. It may be either an outcome to be achieved (as in "The corporation says that becoming profitable this year is a deliverable") or an output to be provided (as in "The deliverable for the completed project consists of a special-purpose electronic device and its controlling software"). Some deliverables are dependent on other deliverables being completed first; this is common in projects with multiple successive milestones. In this way many time-savings are possible, shortening greatly the whole project final supply term. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payroll Taxes
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is unaffected by this distinction, and falls largely or entirely on workers in the form of lower wages. Because payroll taxes fall exclusively on wages and not on returns to financial or physical investments, payroll taxes may contribute to underinvestment in human capital such as higher education. National payroll tax systems Australia The Australian federal government (ATO) requires withholding tax on employment income (payroll taxes of the first type), under a system known as pay-as-you-go (PAYG). The individual states impose payroll taxes of the second type. Bermuda In Bermuda, payroll tax accounts for over a third of the annual national bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Insurance
Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity. According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment". Background A health i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paid Time Off
Paid time off, planned time off, or personal time off (PTO), is a policy in some employee handbooks that provides a bank of hours in which the employer pools sick days, vacation days, and personal days that allows employees to use as the need or desire arises. This policy pertains mainly to the United States, where there are no federal legal requirements for a minimum number of paid vacation days (see also the list of statutory minimum employment leave by country). Instead, U.S. companies determine the amount of paid time off that will be allotted to employees, while keeping in mind the payoff in recruiting and retaining employees. Generally, PTO hours cover everything from planned vacations to sick days, and are becoming more prevalent in the field of human resource management. Unlike more traditional leave plans, PTO plans don't distinguish employee absences from personal days, vacation days, or sick days. Upon employment, the company determines how many PTO hours will be a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manual Labour
Manual labour (in Commonwealth English, manual labor in American English) or manual work is physical work done by humans, in contrast to labour by machines and working animals. It is most literally work done with the hands (the word ''manual'' coming from the Latin word for hand) and, by figurative extension, it is work done with any of the muscles and bones of the human body. For most of human prehistory and history, manual labour and its close cousin, animal labour, have been the primary ways that physical work has been accomplished. Mechanisation and automation, which reduce the need for human and animal labour in production, have existed for centuries, but it was only starting in the 18th and 19th centuries that they began to significantly expand and to change human culture. To be implemented, they require that sufficient technology exist and that its capital costs be justified by the amount of future wages that they will obviate. Semi-automation is an alternative to worke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Contractor
A general contractor, main contractor or prime contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and the communication of information to all involved parties throughout the course of a building project. Description A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. Responsible for the overall coordination of a project, general contractors may also act as building designer and foreman (a tradesman in charge of a crew). A general contractor must first assess the project-specific documents (referred to as a bid, proposal, or tender documents). In the case of renovations, a site visit is required to get a better understanding of the project. Depending on the project delivery method, the contractor will submit a fixed price proposal or bid, cost-plus price or an estimate. The general contractor considers the cost of home office overhead, gen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Benefits
Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. Instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing (employer-provided or employer-paid) furnished or not, with or without free utilities; group insurance (health, dental, life etc.); disability income protection; retirement benefits; daycare; tuition reimbursement; sick leave; vacation (paid and unpaid); social security; profit sharing; employer student loan contributions; conveyancing; long service leave; domestic help (servants); and other specialized benefits. The purpose of employee benefits i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Foreman
A construction foreman, construction forewoman, or construction foreperson is the worker or skilled tradesperson who is in charge of a construction crew. This role is generally assumed by a senior worker. Duties and functions Normally the foreman is a construction worker with many years of experience in a particular trade who is charged with organizing the overall construction of a particular project for a particular contractor. Typically the foreman is a person with specialist knowledge of a given trade who has moved into the position and is now focused on an overall management of his trade on the job site. He or she is responsible for providing proper documentation to his workers so they can proceed with tasks. Specifically, a foreman may train employees under his or her supervision, ensure appropriate use of equipment by employees, communicate progress on the project to a supervisor and maintain the employee schedule. Foremen may also arrange for materials to be at the constr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facility (other)
Facility may refer to: * A place for doing something, or a place that facilitates an activity: ** A commercial or institutional building, such as a hotel, resort, school, office complex, sports arena, or convention center ** Medical facility ** Post-production facility ** Telecommunications facility ** "Facilities" or "The Facilities" can be a euphemism for a public restroom See also * * * Faculty (other) Faculty may refer to: * Faculty (academic staff), the academic staff of a university (North American usage) * Faculty (division), a division within a university (usage outside of the United States) * Faculty (instrument), an instrument or warra ... {{disambig fr:Complexe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimation (project Management)
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as *Analogy based estimation * Compartmentalization (i.e., breakdown of tasks) *Cost estimate *Delphi method *Documenting estimation results *Educated assumptions *Estimating each task *Examining historical data *Identifying dependencies *Parametric estimating *Risk assessment *Structured planning Popular estimation processes for software projects include: * Cocomo * Cosysmo * Event chain methodology * Function points * Planning poker * Program Evaluation and Review Technique (PERT) * Proxy-based estimating (PROBE) (from the Personal Software Process) * The Planning Game (from Extreme Programming) * Weighted Micro Function Points (WMFP) * Wideband Delphi See also * Estimation in software engineering * Software development effort estimation * Comparison of development estimation soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
