Search results
Results From The WOW.Com Content Network
Equipment - (1) a category of cost for organizing and summarizing costs, (2) construction equipment used to execute the project work, (3) engineered equipment such as pumps or tanks. Escalation is defined as changes in the cost or price of specific goods or services in a given economy over a period.
In manufacturing or other non-construction industries the portion of operating costs that is directly assignable to a specific product or process is a direct cost. [1] Direct costs are those for activities or services that benefit specific projects, for example salaries for project staff and materials required for a particular project.
The following is a list of trades in construction . Boilermaker, works in nuclear, oil and gas industry, shipyards, refineries, and chemical plants, on boilers, pressure vessels, and similar equipment. Carpenter, a craftsperson who performs carpentry, building mainly with wood. [1] Among carpentry's subsidiary trades are those of cabinet maker ...
A service is an act or use for which a consumer, company, or government is willing to pay. [ 1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on. Public services are those that society (nation state, fiscal union or region) as a whole pays for.
Minimum acceptable rate of return. In business and for engineering economics in both industrial engineering and civil engineering practice, the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk ...
In construction terminology, an all-in rate is the total cost of an item including all direct and indirect costs for that item. These costs would include the gross hourly cost of employing the site operative, based upon the standard working week for the country, including items such as insurances, statutory contributions and taxes.
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector ( raw materials) and the secondary sector ( manufacturing ). The tertiary sector consists of the provision of services instead of ...
A service-level agreement is an agreement between two or more parties, where one is the customer and the others are service providers. This can be a legally binding formal or an informal "contract" (for example, internal department relationships). The agreement may involve separate organizations or different teams within one organization.