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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 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 ...
[1] [2] It uses project management techniques and software to oversee the planning, design, construction and closeout of a construction project safely, on time, on budget and within specifications. Practitioners of construction management are called construction managers.
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.
Also, construction management software is more focused on single projects, and execution of construction administration processes, vs. capital program planning, design, and construction. The last 10 years have seen a shift in how project information is managed from the general contractor to the owner. [2]
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