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Rough Order Of Magnitude
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 53,000 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 el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project
A project is a type of assignment, typically involving research or design, that is carefully planned to achieve a specific objective. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system (work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action", which in turn comes from ''pro-'', which denotes precedence, something that comes before ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality Assurance
Quality assurance (QA) is the term used in both manufacturing and service industries to describe the systematic efforts taken to assure that the product(s) delivered to customer(s) meet with the contractual and other agreed upon performance, design, reliability, and maintainability expectations of that customer. The core purpose of Quality Assurance is to prevent mistakes and defects in the development and production of both manufactured products, such as automobiles and shoes, and delivered services, such as automotive repair and athletic shoe design. Assuring quality and therefore avoiding problems and delays when delivering products or services to customers is what ISO 9000 defines as that "part of quality management focused on providing confidence that quality requirements will be fulfilled". This defect prevention aspect of quality assurance differs from the defect detection aspect of quality control and has been referred to as a ''shift left'' since it focuses on quality effor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overhead (business)
In business, an overhead or overhead expense is an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular revenue unit, unlike operating expenses such as raw material and labor. Overheads cannot be immediately associated with the products or services being offered, and so do not directly generate profits. However, they are still vital to business operations as they provide critical support for the business to carry out profit making activities. One example would be the rent for a factory, which allows workers to manufacture products which can then be sold for a profit. Such expenses are incurred for output generally and not for particular work order; e.g., wages paid to watch and ward staff, heating and lighting expenses of factory, etc. Overheads are an important cost element, alongside direct materials and direct labor. Overheads are often related to accounting concepts such as fixed costs and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MasterFormat
MasterFormat is a standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada. Sometimes referred to as the "Dewey Decimal System" of building construction, MasterFormat is a product of the Construction Specifications Institute (CSI) anConstruction Specifications Canada(CSC). It provides a master list of Divisions, and Section numbers with associated titles within each Division, to organize information about a facility’s construction requirements and associated activities. MasterFormat is used throughout the construction industry to format specifications for construction contract documents. The purpose of this format is to assist the user in organizing information into distinct groups when creating contract documents, and to assist the user searching for specific information in consistent locations. The information contained in MasterFormat is organized in a standardized outline format within 50 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Specifications Institute
The Construction Specifications Institute (CSI) is a United States national association of more than 6,000 construction industry professionals who are experts in building construction and the materials used therein. The institute is dedicated to improving the communication of construction information through a diversified membership base of allied professionals involved in the creation and management of the built environment, continuous development and transformation of standards and formats, education and certification of professionals to improve project delivery processes, and creation of practice tools to assist users throughout the facility life-cycle. The work of CSI is currently focused in three areas being standards and publications, construction industry professional certifications, and continuing education for construction professionals. History CSI was founded in March 1948 by the specification writers of government agencies who came together to improve the quality of co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Of Quantities
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. The quantities may be measured in number, area, volume, weight or time. Preparing a bill of quantities requires that the design is complete and a specification has been prepared. The bill of quantities is issued to tenderers for them to prepare a price for carrying out the construction work. The bill of quantities assists tenderers in the calculation of construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities (rather than taking-off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering. Creation Bill of quantities are prepared by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Institution Of Chartered Surveyors
The Royal Institution of Chartered Surveyors (RICS) is a global professional body for those working in the Built Environment, Construction, Land, Property and Real Estate. The RICS was founded in London in 1868. It works at a cross-governmental level, and aims to promote and enforce the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure. Founded as the Institution of Surveyors, it received a royal charter in 1881, and in 1947 became the Royal Institution of Chartered Surveyors. With a London HQ and regional offices across the United Kingdom, plus international offices, it serves a 113,000-strong membership distributed over nearly 150 countries. The RICS is linked to other national surveying institutions, collaborates with other professional bodies, and, in 2013, was a founder member of a coalition to develop the International Property Measurement Standards (IPMS). It also produces cost information ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Old Handwritten Estimate
Old or OLD may refer to: Places *Old, Baranya, Hungary *Old, Northamptonshire, England *Old Street station, a railway and tube station in London (station code OLD) *OLD, IATA code for Old Town Municipal Airport and Seaplane Base, Old Town, Maine, United States People *Old (surname) Music *OLD (band), a grindcore/industrial metal group * ''Old'' (Danny Brown album), a 2013 album by Danny Brown * ''Old'' (Starflyer 59 album), a 2003 album by Starflyer 59 * "Old" (song), a 1995 song by Machine Head *"Old", a 1982 song by Dexys Midnight Runners from ''Too-Rye-Ay'' Other uses * ''Old'' (film), a 2021 American thriller film *''Oxford Latin Dictionary'' *Online dating *Over-Locknut Distance (or Dimension), a measurement of a bicycle wheel and frame See also *Old age *List of people known as the Old *''Old LP'', a 2019 album by That Dog * * *Olde, a list of people with the surname *Olds (other) Olds may refer to: People * The olds, a jocular and irreverent online nick ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procurement
Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done. When a government agency buys goods or services through this practice, it is referred to as '' government procurement'' or public procurement. Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subcontractor
A subcontractor is a person or business which undertakes to perform part or all of the obligations of another's contract, and a subcontract is a contract which assigns part of an existing contract to a subcontractor. A general contractor, prime contractor or main contractor may hire subcontractors to perform specific tasks as part of an overall project to reduce costs or to mitigate project risks. In employing subcontractors, the general contractor hopes to receive the same or better service than the general contractor could have provided by itself, at lower overall risk. The European Union has recognised the need to make provision for sub-contracting in its rules on public procurement, as arrangements for sub-contracting can support the EU's drive to involve more small and medium-sized undertakings in the provision of goods and services for the public sector. Definition United States public acquisition regulations contain a number of distinct definitions of "subcontract" an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Contractor
A contractor (North American English) or builder (British English), 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. In the United States, a contractor may be a sole proprietor managing a project and performing labor or carpentry work, have a small staff, or may be a very large company managing billion dollar projects. Some builders build new homes, some are remodelers, some are developers. Description A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction 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 tend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
