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It was founded in 1956 [1] by about 20 cost estimators in Los Angeles, California. [2] In 1974, there were 10 chapters totalling 600 members. By 1977, there were 23 chapters totalling 1500 members. The society's web page states that there are thousands [clarification needed] of members in 65 chapters across the US.
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 ...
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 Dragonfly is a two-seater aircraft that features a tandem wing layout with a forward wing mounted low and the other behind the cockpit in a shoulder position, a two-seats-in-side-by-side configuration enclosed cockpit under a bubble canopy, fixed landing gear and a single engine in tractor configuration. The cockpit is 43 in (109 cm) wide [3]
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 ...
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.