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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 CIOB Complex Projects Contract 2013 was a form of construction and engineering contract, developed by the Chartered Institute of Building (CIOB). Its formal name was the 'Contract for Use with Complex Projects, First Edition 2013'.
50 Divisions refers to the 50 divisions of construction information, as defined by the Construction Specifications Institute (CSI)'s MasterFormat beginning in 2004 ...
Soft Cost is a construction industry term but more specifically a contractor accounting term for an expense item that is not considered direct construction cost. Soft costs include architectural, engineering, financing, and legal fees, and other pre- and post-construction expenses. [1]
In the construction industry, an allowance may be an amount allocated to a specific item of work as part of an overall contract. The person providing the allowance usually tries to control how or when money is spent by the recipient so that it meets the aims of the person providing the money.
The National Association of Homebuilders, a trade group, estimates that 7% — or $13 billion — of materials used for residential construction were imported in 2023.
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