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A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

Some refer to these risks as "known-unknowns" because the estimator is aware of them, and based on past experience, can even estimate their probable costs. The estimated costs of the known-unknowns is referred to by cost estimators as cost contingency. RSMeans refers to this as, "Price the quantities."

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(Still) Waiting for the Home Building Technology Revolution

Pro Builder

They thought scheduling was “pretty good.” . But despite access to an online scheduling portal from a big-name software company, most of the actual scheduling and updates were done by the field superintendent by phone. The very best ran schedules of 60 to 65 days, with some even in the low 40s. Technology wasn’t a factor.

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Job Order Contract Execution Guide – Sample Template

Job Order Contracting

Each project will encompass detailed line item construction task and reference specifications encompassing improvements, alterations, renovation, remodeling, major repairs, and minor new construction associated with ORGANIZATION NAME structures and properties. coefficient (reference table of allowable overhead). Scheduling.

Contract 100
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Rory Woolsey's Construction Estimating Blog: Mark It Up!

Rory Woolsey

“ What are the” appropriate” markups for overhead, profit and contingency when budgeting facilities construction projects?” Beyond this, the installing contractor’s overhead(s) and profit will need to be added. Overhead: Overhead is the markup for the general contractor’s home office overhead.

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Job Order Contracting Glossary

Building Information Management

It is sometimes use synonymously with the term “Coefficient”, and sometime refers to a cost localization factor that is used in addition to the “Coefficient”. The proposal shall also contain a schedule for the completion of a specific project scope of work as requested by the owner. The prices shall not include overhead and profit.

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Data Scientists Reveal 5 Surprising Construction Insights to Manage Risk 

Autodesk Construction Cloud

To understand how data insights can inform success outcomes for the construction industry, Scott refers to a framework of Data – Information – Knowledge – Wisdom. An example of a data point might be the number of overhead mechanical racks installed on the job that day, or logging the root cause of a safety incident.

Risk 52
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3 Ways to Take Construction Asset Tracking to the Next Level 

Autodesk Construction Cloud

spreadsheets) aren’t conducive to effective asset tracking because they lack features that enable real-time information sharing and integrations with other systems. And while project schedules are helpful, they’re often static and don’t contain the most updated project info. checklists, schedules, etc.),