Unit Cost
The cost for one measured unit of completed work activity.
Unit of Measure
The term used for how a bid item is quantified.
Valley
The internal angle formed by the intersection of two sloping roof surfaces. Valleys channel rainwater to the gutters and can
Value Engineering
A method to improve the value of construction goods, products or services by using and examination of function. Value, as
Value of Work to Date (VOWD)
A project management technique for measuring and estimating the project cost at a point in time
Variation
Financial adjustments arising from instructions issued in accordance with the contract to vary the contract works. This may include loss
Variation Account
A variation account in relation to quantity surveying is a record that tracks changes, additions, or omissions to the original
Variation Order
A variation order refers to a formal written document that modifies the scope, quality, or duration of a construction project,
Vesting Certificate
Vesting Certificates can be used as evidence that ownership vests in the client upon payment, defeating third party claims such as
Virtual Design and Construction (VDC)
Is the use of integrated multi-disciplinary performance models of design-construction projects, including the Product (i.e., facilities), Work Processes and Organization
