article thumbnail

10 Types of Construction Estimates and their Definitions

Chianelli Estimating

This type of construction cost estimate is prepared during a project’s initial design phase and helps determine which construction methods are most feasible. These are similar to ROM but contain additional analysis and detail that help discern the feasibility of various project elements. Feasibility Estimate. Design Estimates.

article thumbnail

Adjusting During A Pandemic: Skepticism Abounds – It Can’t Happen to Me… or Can it? Part 2

FDR Safety

It is important to understand that there is no regulatory or legal definition for probability and severity terms. Examples of definitions are provided in Figure 3 and it is up to the team to review and edit terms for the level of risk associated with the operation(s). Example Definitions [2].

Risk 156
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Equation: Knowledge Problems + Data Problems + Management Problems = Outcome Problems

Job Order Contracting

Failure to require common terms, definitions, and data environments Failure to leverage locally researched detailed line item cost data ‘Ad-hoc’ data management resulting in duplication of effort, errors, and omissions. Life Cycle Costing as an Important Contribution to Feasibility Study Construction Projects. Heralova, R.

article thumbnail

Definition of Design Period | Why Design Period is Provided | Factors Affecting Design Period | Design Period Values

CivilJungle

Definition of Design Period: Design period could be defined as the number of years in the near future in which the supply will surpass the demand. For the projects whose augmentation is unquestionably feasible, it’s generally kept low. Why Design Period Is Provided? Steel Pipes. 25 – 50 Years. Cast Iron Pipes. Concrete Pipes.

Design 52
article thumbnail

Defining acceptable risk in LOTO or machine guarding

FDR Safety

Safety professionals concerned with safety, efficiency and compliance should have the concepts of “acceptable risk” and “feasibility” in the forefront of their thinking. In every case, the “acceptable risk” and “feasibility” of lockout/tagout or machine guarding was the central issue.

Risk 120
article thumbnail

Shopping Mall Development Trends: Are Ghost Kitchens the Answer for Vacant Mall Space?

HardHatChat

Whether adding ghost kitchens as tenants will be a successful strategy to help revive flagging malls remains to be seen – and the feasibility of these projects from a construction standpoint will definitely be a factor.

Retail 177
article thumbnail

Construction project management 101 – Checklist

Lets Build

For the definition of construction project management, it’s basically PMI’s definition in the construction context. At the start of any project, a business case must be created and evaluated to ascertain the feasibility of the project. Stakeholders then perform feasibility testing accordingly. Initiation.