Cost Breakdown Structure (CBS)
In the context of order of cost estimates and cost plans, the cost breakdown structure (CBS) represents the cost breakdown
Cost Checks (or Cost Checking)
Take place during all design stages and are concerned with comparing current estimated costs against cost targets previously set for
Cost Code
A numeric code that uniquely identify projects, sub-projects, group elements, elements, sub-elements and components.
Cost Codification Framework
A numeric coding structure that may be used to uniquely identify projects, sub-projects, group elements, elements, sub-elements and components. The
Cost Control
The process of planning, predicting and controlling the costs of building(s). Takes place throughout the duration of the construction project.
Cost Exercises
Exercises used to develop the cost plan and to verify that the specification for the building systems and components meet
Cost Limit (or Project Budget)
The maximum expenditure the client is prepared to make in relation to the completed building. Includes construction costs, the cost
Cost of Quality
The cost of quality refers to the total amount of money that is spent on ensuring that the completed project
Cost Overrun
Cost overruns in construction refer to a situation where the actual cost of a construction project exceeds the initial estimated
Cost Per Functional Unit (or Functional Unit Cost)
The unit rate that, when multiplied by the number of functional units, gives the total building works estimate (i.e. works
