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Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.
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 concrete slab is a common structural element of modern buildings, consisting of a flat, horizontal surface made of cast concrete. Steel- reinforced slabs, typically between 100 and 500 mm thick, are most often used to construct floors and ceilings, while thinner mud slabs may be used for exterior paving ( see below ).
A pivot table in BOEMax, a Basis of Estimate software package. To create a BOE companies, throughout the past few decades, have used spreadsheet programs and skilled cost analysts to enter thousands of lines of data and create complex algorithms to calculate the costs. These positions require a high level of skill to ensure accuracy and ...
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 problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
Gypsum concrete is lightweight and fire-resistant. A 1.5-inch slab of gypsum concrete weighs 13 pounds per square foot versus 18 pounds per square foot for regular concrete. [10] Even though gypsum concrete weighs less, it still has the same compressive strength as regular concrete, based on its application as underlayment or top coat flooring ...