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Construction estimating software. 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.
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. Both estimators and quantity surveyors must have a background education ...
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.
Technique used in management and information systems. The three-point estimationtechnique is used in management and information systemsapplications for the construction of an approximate probability distributionrepresenting the outcome of future events, based on very limited information. While the distribution used for the approximation might ...
In November 2010, CSI acquired Building Systems Design (BSD) to help advance software tools for specifications development and communication of building information across the building team. [ 2 ] [ 3 ] BSD is a software firm that is a leading developer of commercial master specifications and construction cost estimating software.
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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