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The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.
Either the costs that the contractor incurs are greater than the price he is charging the client (as a consequence of a lower tender determining the contract sum), and thus is likely to go insolvent, or he will claim for "loss and/or expense" due to discrepancies in the contract documents (this can be done deliberately). The lowest tender is ...
Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. 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 ...
Planning permission or building permit refers to the approval needed for construction or expansion (including significant renovation), and sometimes for demolition, in some jurisdictions. [1] [2] House building permits, for example, are subject to building codes. There is also a "plan check" (PLCK) to check compliance with plans for the area ...
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 ...
McCormick also awarded $176 million in fees and costs to the three law firms that brought the case on a contingency basis. Tesla had asked McCormick to cap the fee at $64 million.
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