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Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.
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.
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 ...
The consumer has the additional costs of transportation, usage and eventually, disposal of the product. Together, these costs are referred to as the total customer cost (TCC). In contrast to price, which is a producer-oriented concept, TCC focuses on the consumer and includes all of the steps of the overall consumption process.
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 ...
Exhaust system of the Opel Corsa B 1.2 petrol Exhaust manifold (chrome plated) on a car engine. An exhaust system is used to guide reaction exhaust gases away from a controlled combustion inside an engine or stove. The entire system conveys burnt gases from the engine and includes one or more exhaust pipes. Depending on the overall system ...
A 4-2-1 exhaust system is a type of exhaust manifold for an engine with four cylinders per bank, such as an inline-four engine or a V8 engine. The layout of a 4-2-1 system is as follows: four pipes (primary) come off the cylinder head , and merge into two pipes (secondary), which in turn finally link up to form one collector pipe.
An exhaust brake is a valve which essentially creates a back-pressure in the exhaust system, which applies enough force onto the engine's pistons to slow the engine. In most cases, an exhaust brake is so effective that it can slow a heavily-loaded vehicle on a downgrade without ever applying the vehicle’s service brakes.
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