Cost Plan (or Elemental Cost Plan)
In the RICS professional statement Cost prediction, a cost plan is defined as “an estimate based on a specific design.
Cost Target
A cost target is the recommended total expenditure for an element of a building. The cost target for each element
Cost Value Reconciliation (CVR)
Cost value reconciliation (CVR) is a regular exercise, usually monthly, that gives an ongoing account of a contract’s profitability by
Cost-benefit Analysis
Cost benefit analysis is a method of comparing the costs and benefits of different options, usually expressed in money terms,
Costing
Costing is the process of applying appropriate costs or rates to the line items in an estimate or bill after
Crew
A crew is a group of operatives who work together to carry out a particular construction activity, such as a
Crew Hour (ch)
A crew hour (ch) is a unit of effort equal to one crew working for one hour. Crew hours are
Deflation
Deflation is a sustained decrease in the general price level of resources (as defined in ISO 15686-5); it is the
Delay Claim
A delay claim is a request by a contractor or subcontractor for an extension of time, additional payment, or both,
Descriptive Information
Descriptive information is the means by which the design team describes a building system or component in enough detail for
