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In 2013, the Construction Industry Institute [5] at the University of Texas adopted the CCM as "a value-adding credential" following a joint effort to compare and harmonize CII's Construction Best Practices with the CMAA SOP, and to assure that the CCM examination measured and recognized mastery of the Best Practices.
The scope of what constitutes ‘construction work’ has been increased. “Construction work” now means the carrying out of any building, civil engineering or engineering construction work and includes building temporary structures used for events, television, film and entertainment productions. [1]
The primary lessons learned on this scan tour relate to the types of projects using design–build, the use of best-value selection, percentage of design in the solicitation, design and construction administration, third-party risks, the use of warranties, and the addition of maintenance and operation to design–build contracts." [21]
QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
The construction field uses many terms not used in other forms of accounting, such as "draw" and progress billing. [1] Construction accounting may also need to account for vehicles and equipment, which may or may not be owned by the company as a fixed asset.
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
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