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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 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 ...
At thirteen, Carré left school to become an apprentice house-painting estimator. Finding his talent lay in painting rather than arithmetic, he took a job as an assistant scene painter at Atelier Amable, at the time one of the most important scenic art studios in Paris. [4] One of his first jobs was painting a large-scale reproduction of the ...
One key objective of cost engineering is to arrive at accurate cost estimates and schedules, and to avoid cost overruns and schedule slips. Cost engineering goes beyond preparing cost estimates and schedules by helping manage resources and supporting assessment and decision-making.
In statistics, an estimator is the formal name for the rule by which an estimate is calculated from data, and estimation theory deals with finding estimates with good properties. This process is used in signal processing , for approximating an unobserved signal on the basis of an observed signal containing noise.
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