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  2. Basis of estimate - Wikipedia

    en.wikipedia.org/wiki/Basis_of_estimate

    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. Through carefully planned equations, hierarchical listing of elements, standard calculations, checklists of project elements and other ...

  3. Renovation - Wikipedia

    en.wikipedia.org/wiki/Renovation

    Renovation (also called remodeling) is the process of improving broken, damaged, or outdated structures. Renovations are typically done on either commercial or residential buildings. Additionally, renovation can refer to making something new, or bringing something back to life and can apply in social contexts.

  4. Cost contingency - Wikipedia

    en.wikipedia.org/wiki/Cost_contingency

    The contingency allowance is designed to cover items of cost which are not known exactly at the time of the estimate but which will occur on a statistical basis." [1] The cost contingency which is included in a cost estimate, bid, or budget may be classified as to its general purpose, that is what it is intended to provide for. For a class 1 ...

  5. Home improvement - Wikipedia

    en.wikipedia.org/wiki/Home_improvement

    The concept of home improvement, home renovation or remodeling is the process of renovating, making improvements or making additions to one's home. Home improvement can consist of projects that upgrade an existing home interior (such as electrical and plumbing), exterior (masonry, concrete, siding, roofing) or other improvements to the property ...

  6. Construction - Wikipedia

    en.wikipedia.org/wiki/Construction

    Construction is a general term meaning the art and science of forming objects, systems, or organizations. [ 1 ] It comes from the Latin word constructio (from com- "together" and struere "to pile up") and Old French construction. [ 2 ] To 'construct' is a verb: the act of building, and the noun is construction: how something is built or the ...

  7. Cost overrun - Wikipedia

    en.wikipedia.org/wiki/Cost_overrun

    Cost overrun. A cost overrun, also known as a cost increase or budget overrun, involves unexpected incurred costs. When these costs are in excess of budgeted amounts due to a value engineering underestimation of the actual cost during budgeting, they are known by these terms. Cost overruns are common in infrastructure, building, and technology ...

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