Construction Project management vocabulary E
Employment Agreement - A contract binding an employee to an employer for a specific length of time and for disclosed compensation.
Engineer - A professional firm and/or individual who is professionally engaged in an engineering discipline.
Escrow Account - Money put into the custody of the third party by the first party for disbursement tot the second party. A brief temporary depository for progress payments until authorized for release according to the depositor’s explicit instructions.
Estimate - (1) To calculate approximately the amount, extent or value of something (2) To form an opinion of estimated costs.
Estimate of Construction Cost - A calculation of costs prepared on the basis of a detailed analysis of materials and labor for all items of work, as contrasted with an estimate based on current area, volume or similar unit costs.
Estimated Cost to Complete - An estimate of the cost still to be expended on a work-scope in order to complete it. The difference between the Cost to Date and the Estimated Final Cost.
Estimated Final Cost - An estimate of the final cost of a work item based on its Cost to Date and the estimated cost to complete it. The sum of the Cost to Date and the Estimated Cost to Complete.
Estimating - A process of calculating the amount of material, labor and equipment required for a given project necessary to complete the work as specified.
Ethics - Self-imposed rules or standards of performance for professionals set by the organization or association to which the professional belongs or by the public trust.
Extended Services - Dissimilar services included in a contract to be performed over and above those that are included as the principal services of the contract.
Extended Services-CM - A form of CM where other services such as design, construction, and contracting are included with ACM services provided by the construction manager.
Engineer - A professional firm and/or individual who is professionally engaged in an engineering discipline.
Escrow Account - Money put into the custody of the third party by the first party for disbursement tot the second party. A brief temporary depository for progress payments until authorized for release according to the depositor’s explicit instructions.
Estimate - (1) To calculate approximately the amount, extent or value of something (2) To form an opinion of estimated costs.
Estimate of Construction Cost - A calculation of costs prepared on the basis of a detailed analysis of materials and labor for all items of work, as contrasted with an estimate based on current area, volume or similar unit costs.
Estimated Cost to Complete - An estimate of the cost still to be expended on a work-scope in order to complete it. The difference between the Cost to Date and the Estimated Final Cost.
Estimated Final Cost - An estimate of the final cost of a work item based on its Cost to Date and the estimated cost to complete it. The sum of the Cost to Date and the Estimated Cost to Complete.
Estimating - A process of calculating the amount of material, labor and equipment required for a given project necessary to complete the work as specified.
Ethics - Self-imposed rules or standards of performance for professionals set by the organization or association to which the professional belongs or by the public trust.
Extended Services - Dissimilar services included in a contract to be performed over and above those that are included as the principal services of the contract.
Extended Services-CM - A form of CM where other services such as design, construction, and contracting are included with ACM services provided by the construction manager.
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