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Building Trade Quotes Glossary

Building Trade Glossary

TERMSDEFINITIONS
Building Cost EstimatorA Building Cost Estimator is simply an Estimator that prepares the quote for a building or part there of.
Building TakeoffA Building Takeoff refers to a list of trade scope of works or quantities of materials that are required to build all or part of a project.
ClarificationsConfirming specific details of what has been allowed for in your quote
Construction Cost EstimatorA Construction Cost Estimator is simply an Estimator that prepares the quote for a building or part there of.
Construction TakeoffA Construction Takeoff refers to a list of trade scope of works or quantities of materials that are required to build all or part of a project.
Cost RecipeA cost recipe is a list of costs (including labour) to complete a task for example Tiles, Glue, Grout and labour
Dead lineThe cut of day for you to provide your quote or tender
DrawingsDrawings are the detailed plans usually provided by the architect or designer
Due dateThe date that you are required to submit your quote or tender
EstimatePreparation of costs expected to be part of a project
EstimatingEstimating is the process of calculating the expected costs to complete a job
ExclusionsItems or specific materials not included in your quote
Expert EstimationUsing industry raters to prepare a estimate of costs to complete a project
Gantt ChartFrequently used in project management, a Gantt chart provides a graphical illustration of a schedule that helps to plan, coordinate, and track specific tasks in a project
MarginMargin is the expected $ amount or % remaining after all the costs are paid.
MarkupMarkup refers to the profit portion of your construction or building quote . Markup is the $ amount or % added to your costs
OverheadsBusiness overheads are costs or expenses to the business in order for the business to run for example Vehicle running costs, Administration staff and accountant fees
PC SumA  PC Sum  ( Prime Cost ) is an allowance in the quote for the  cost  of foreseeable necessary work, usually the supply of materials not specified at the time for example Floor Tiles
PlansPlans are the detailed drawings usually provided by the architect or designer
PreliminariesPreliminaries are usually allowance in your quote to cover administration and overhead costs required to complete a project
Preliminary ProgramA preliminary program is a high level overview of the expected time line to complete a project. Commonly provided as a Gantt Chart
Prime CostA  Prime Cost  ( PC Sum ) is an allowance in the quote for the  cost  of foreseeable necessary work, usually the supply of materials not specified at the time for example Floor Tiles
Provisional SumA Provisional Sum  is an allowance, for a specific element of the works that is not yet defined in enough detail for tenderers to accurately price for example Kitchen Joinery
Rate CalculationA Rate Calculation is a list of costs (including labour) to complete a task for example Plasterboard , adhesive, base coat, top coat, screws and labour
Scope of WorksGeneral list referring to a general description of the work that is expected to be performed under a particular contract.
SpecificationsDocuments usually provided by the architect providing the specifics of products and finishes for the project
Take Off EstimatingPreparing a quantity takeoff or scope of works to then estimate the job costs
TakeoffA Takeoff is a term used in engineering and construction and refers to a list of quantities of materials that are required to build all or part of a project.
TenderA Tender usually refers to the process whereby Builders or Commercial clients invite bids for large projects that must be submitted within a finite deadline.
Australian Building Trade Glossary

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