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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 ...
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.
Uniformat is a standard for classifying building specifications, cost estimating, and cost analysis in the U.S. and Canada. The elements are major components common to most buildings. The system can be used to provide consistency in the economic evaluation of building projects.
In estimating for contracting, the cost is what something costs you to build, and price is what you charge another party for building it. RSMeans refers to this as, "Price the quantities." [ 25 ] ASPE recommends the "quantity times material and labor costs format" [ 27 ] for the compilation of the estimate.
Built-in cost databases – this provides reference cost data which may be your own or may come from a commercial source, such as RS Means; Estimating worksheets – these are the spreadsheets where the real work takes place, supported by calculations and other features [6] Other typical features include:
"50 Divisions" is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the United States and Canada. [5] Standardizing the presentation of such information improves communication among all parties.