A glossary of terms with reference to Construction Cost Estimating
Construction Cost Estimating
JULY 1, 2014
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. This total or subtotal is usually identified as such in an estimate report. Also known as Total Estimated Contract Cost (TECC).
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