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The latest officially released version of MasterFormat is the 2018 Edition, which uses the following Divisions: PROCUREMENT AND CONTRACTING REQUIREMENTS GROUP:
BAU – Business as usual; BEP – Break-even point; BI – Business intelligence; BIC – Bank identifier code; bldg. – Building BLS – Balance sheet; BOM – Bill of materials; BPO – Business process outsourcing
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.
RS Group, entertainment & media company in Thailand; RS Group plc, British electronics & industrial distributor in England with brands including RS Components and RS Americas, Inc
RSMeans publishes a city cost index table. [3] Construction is a process that consists of the creation, modification, or demolition of facilities, buildings, civil and monumental works, and infrastructure. Construction cost - the total cost to construct a project. This value usually does not include the preplanning, site or right of way ...
RS Group plc is an omni-channel provider of products and services for designers, builders and maintainers of industrial equipment and operations, serving over 1 million customers in more than 80 countries. [11]
RSMeans refers to this as, "Scope out the project," and, "Quantify." [25] Some jurisdictions or areas of practice define the itemization and measuring in certain terms, such as RICS and may have specific rules for development of a bill of quantities. The ASPE proposes a best practice standard method for the quantity survey.
Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. 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.