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Model selection is the task of selecting a model from among various candidates on the basis of performance criterion to choose the best one. [1] In the context of machine learning and more generally statistical analysis , this may be the selection of a statistical model from a set of candidate models, given data.
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, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
Model-based testing is an application of model-based design for designing and optionally also executing artifacts to perform software testing or system testing. Models can be used to represent the desired behavior of a system under test (SUT), or to represent testing strategies and a test environment.
"Cost engineering practitioners tend to be: a) specialized in function (e.g., cost estimating, planning and scheduling, etc.); b) focused on either the asset management or project control side of the TCM process; and c) focused on a particular industry (e.g., engineering and construction, manufacturing, information technology, etc) or asset ...
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]
The model then provides as output various resources requirements in cost and time. Some models concentrate only on estimating project costs (often a single monetary value). Little attention has been given to the development of models for estimating the amount of resources needed for the different elements that comprise a project. [1]
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as Many processes have been developed to aid engineers in making accurate estimates, such as
Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project. Design–bid–build is the ...