Lesson 4 ni maam Flashcards
is the process of planning, budgeting,
and reporting project spend in order to keep teams on budget and
overall costs reasonable.
Project Cost Management
is the process of forecasting the cost
of building physical structure
Construction cost estimating
This process is
performed periodically throughout the project as needed
Construction cost estimating
Includes determination of the qualities & costs of everything
required to compute the project which includes material, labor,
equipment, insurance, subcontract work, overhead profit etc.
DETAILED ESTIMATES
this cost include project team
wages, the costs of resources to produce physical products, fuel
for equipment, and money spent to address any project-specific
risks.
DIRECT COSTS
quality control, security costs, and
utilities are usually classified as________since they are
shared across a number of projects and are not directly billable to
any one project.
indirect costs
The cost of human effort expended towards project objectives.
labor
The cost of resources needed to create products.
Material
The cost of buying and maintaining equipment used in project
work
Equipment
The cost of external work that a company seeks for any given
project (vendors, contractors, etc.
Service
Non-physical computer resources.
software
Physical computer resources.
Hardware
The cost of renting or using specialized equipment, services, or
locations
Facilities
Costs added to the project budget to address specific
risks
Contingency
is a schedule which categories, details and quantifies the
materials and other cost items to be used in construction project.
Bill of Quantities
outlines the entire construction process from start to finish. It
includes the sequence of activities, resources, and the timeline for
each project phase
PROGRAM OF WORKS
is a list of all the physical materials necessary to complete a
job and their costs
QUANTITY TAKE-OFF
the common strategy of engineers and estimators is to
compute the total wall area and multiply this to a certain cost
MASONSY WORKS
In actual practice, the common strategy of engineers and estimators is to
compute the total weight of the rebar’s and multiply it to the commercial
price of the rebar’s per kilogram. Average price of rebar’s in the Philippine
market is around _____ per kg
Rebar works, ₱50.00
