ESTIMATION AND COSTING KEY TERMS: IMPORTANT READINGS FOR QUANTITY SURVEYORS VOLUME 4

DISCLAIMER5Allocation of costs6Allowance6Project cost estimate6The Basis of Estimate (BOE)6Bill of Materials6Bills of Quantities (BOQ)6Bond6A Chart of Accounts (COA)6Construction7Construction Cost7Consumables7Contingency7Cost7Cost Index7Costing8Crew8Crew hour8Deliverable8Direct Cost8Distributable expenses9Duration9Equipment9Escalation9Estimation9Facility9Field Supervision9Foreman10Fringe benefits10General & Administrative Costs (G&A)10General Contractor10General Requirements10Indirect Cost11Labor11Labor benefits11Labor burden11Labor rate11Line Item11Cost of living Index12Lumpsum12Man Hour Norms12The Man Hour12Mark up cost12Manual Labor13Means and methods13Non-manual labor13Non-productive, unforeseen time13An Open shop13Overheads14Overtime14Per diem14Plug Number14Premium pay14Price14Pricing15Production Rate15Productivity15Profit15Profit Margin15Project15Quality16Quantify16Quantity16Quantity Surveyor16Resources16Schedule of Values17Scope17Specification17Subcontractor17Supplier17Take off17Task18Tool18Unit cost18Unit of Measure18Virtual Design and Construction (VDC18Work18Work Breakdown Structure (WBS)19Worker19Wage Rate19