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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 ...
In cost modeling the estimator models the various parameters of the facility and applies costs to the derived scope. Building estimators or architects may use the Uniformat system of breaking down the building into functional systems or assemblies during the schematic design (SD) phase of planning and design. [36] The RSMeans Square Foot Costs ...
A cost database includes the electronic equivalent of a cost book, or cost reference book, a tool used by estimators for many years. Cost books may be internal records at a particular company or agency, [1] or they may be commercially published books on the open market. AEC teams and federal agencies can and often do collect internally sourced ...
Calculated Industries' first entry into the calculator business came in the later 1970s with The Loan Arranger. [1] It was one of the first Real Estate calculators to simplify the process of calculating a loan payment, breaking away from the traditional financial key labeling of “I”, “PV”, “FV” to more clearly labeled function keys.
A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
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 ...
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