Estimating & Costs

Estimate (Cost Estimate)

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An approximate calculation of the cost to complete a construction project based on available information.

Other Terms

Cost-Plus Contract

A contract where the owner agrees to pay the contractor the actual cost of the...

CAD (Computer-Aided Design)

The use of computers to aid in the creation, modification, analysis, or...

GMP (Guaranteed Maximum Price)

A contract provision where the contractor is compensated for actual costs...