Answered: 1. The calculation of the quantities of…

1. The calculation of the quantities of various items of work, and the expenses likely to be incurred during the execution phase of the project Estimates Procurement Bidding Quantity Surveying

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter13: Pricing Subcontractors' Work

Section: Chapter Questions

Problem 2RQ

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Concept explainers

Engineering Economics Principles

Engineering economics (engineering economy) is a sub-field of economics to study the use and application of the economic principles in the engineering analysis of decisions along with the systematic evaluation of the advantages of project costs inclusive of engineering design and analysis. It emphasizes microeconomics (a subset of economics) for researching the behavior of people in the decision-making process of assigning and determining multiple alternatives to the usage of some of the restrained resources and merging economic theory and engineering practice in a practical manner. It depicts the logical framework of economics in addition to the analytical application of statistics and mathematics.

Question

1. The calculation of the quantities of various
items of work, and the expenses likely to be
incurred during the execution phase of the
project
Estimates
Procurement
Bidding
Quantity Surveying

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