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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 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 ...
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
The project cost was revised from an initial Rs486.093 billion to Rs510.980 billion, mainly because of escalation of land cost. [ 10 ] Project is being financed by the World Bank (US$588 million), the local commercial financing from a consortium of local banks (Rs144 billion), and foreign commercial financing from Credit Suisse Bank ($350 million).
Today, concrete is one of the most common materials used in infrastructure. There is twice as much concrete used in construction than all other building materials combined. [42] It is the backbone of industrialization, as it is used in bridges, piers, pipelines, pavements, and buildings. [43]
Capital costs are fixed, one-time expenses incurred on the purchase of land, buildings, construction, and equipment used in the production of goods or in the rendering of services. In other words, it is the total cost needed to bring a project to a commercially operable status.
Construction costs may refer to: Costs associated with construction work; Construction costs (biology), a concept in biology relating to the amount of glucose ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects.