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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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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.

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JOB ORDER CONTRACT Glossary / Terms / Defintions – JOC , JOB ORDER CONTRACTING

Building Information Management

A selection process dependent upon multiple parameters of past performance, previous experience, references, and price. to 1.20 multiplier applied to the the total of the line items for a project or task order estimate. It typcially includes all overhead items such as. BEST VALUE. LOCATION FACTOR. contingencies.

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Advice for Home Builders Navigating a Market in Flux

Pro Builder

Another operational observation is the deterioration of management systems and processes as a result of increased volume and extended schedules over the last couple of years. For new plans, reduce square footages; improve your purchasing processes, procedures, and negotiating strategies; and reduce construction waste. Manage overhead.

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What are Independent Government Estimates – IGEs?

Building Information Management

This means the estimate should include (1) the direct costs incident to the construction; (2) an allowance for indirect or overhead costs; and (3) an allowance for a reasonable amount of profit. This price would include the cost of cement, aggregate, reinforcing steel and forms, but it usually excludes all overhead and profit.

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Job Order Contracting – 2015

Building Information Management

If a task is not in the UPB, it can be negotiated, priced and added at any time to the book. The latter is typically referred to as a non-prepriced (NPP) line item. Low overhead cost of construction procurement and delivery. References: A Path Toward Construction Productivity – Academia.edu, July 2015. Advantages.

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Job Order Contracting – Best Practices Implementation

Building Information Management

Individual task orders generally include drawings, detailed unit prices, and reference specifications. Labor costs will be reimbursed to the Contractor at the unit price rate multiplied by the Contractor negotiated coefficient(s). The Contractor may be reimbursed for Subcontractor at cost plus the negotiated coefficient.