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company, etc, over a specifiedperiod, usually a financial year 2an estimate of income and a plan for domestic expenditure of an individ .ual or a family, often over ashort period, such as a month or a week 3a restriction on expenditure (esp in the phrase on a budget ) . 5the total amount of money allocated for a specific purpose during a spec .ified period 6archaic a stock, quantity, or supply . bid package All drawings, specifications, documents, estimates, paperwork, bid forms, and bid bonds relevant to a construction project. A contract is based on the bid package. network schedule A method of scheduling the construction process where various related events are programmed into a sequential network on the basis of starting and finishing dates. insurance A contract, typically referred to as an insurance policy, in which the insurer, in return for the premium stated in the policy, agrees to pay the insured up to the limits specified in the policy for losses or damages incurred by the insured. liability A situation in which one party is legally obligated to assume responsibility for another party's loss or burden. Liability is created when the law recognizes two elements: the existence of an enforceable legal duty to be performed by one party for the benefit of another, and the failure to perform the duty in accordance with applicable legal standards. work 1. All labor and materials required to complete a project in accordance with the contract documents. 2. The product of a force times the distance traveled. bid document A form of security executed by the bidder or principal in conjunction with a surety to guarantee that the bidder will enter into a contract within a specified period of time and will furnish the required bonds for performance and labor and materials payment. schedule A pictorial or written schedule (including a graph or diagram) that shows proposed and actual start and completion dates of the various work elements. See also critical path method (CPM) and PERT schedule. A chronological itemization, often in chart form, of the sequence of project tasks. See also progress schedule. shop drawings Drawings created by a contractor, subcontractor, vendor, manufacturer, or other entity that illustrate construction, materials, dimensions, installation, and other pertinent information for the incorporation of an element or item into the construction. cash flow The amount of cash a company or construction project generates, or fails to generate, over a specific period of time. labor
Effort expended by people for wages or salary. Generally classified as either direct or indirect. Direct labor is applied to meeting project objectives and is a principal element used in costing, pricing, and profit determination; indirect labor is a component of indirect cost, such as overhead or general and administrative costs. progress payment A scheduled partial payment made during the work process to cover costs of work completed or materials delivered to date. punch list A list of items within a project, prepared by the owner or his representative, and confirmed by the contractor, which remain to be replaced or completed in accordance with the requirements of the contract for construction at the time of substantial completion. drawings 1. Graphic illustrations depicting the dimensions, design, and location of a project. Generally including plans, elevations, details, diagrams, schedules, and sections. 2. The term, when capitalized, refers to the graphic portions of a project's contract documents. specification A detailed and exact statement of particulars, especially a statement prescribing materials, dimensions, and workmanship for something to be built or installed. estimate The anticipated cost of materials, labor, equipment, or any combination of these for a proposed construction project. http://www.dictionaryofconstruction.com temporary facility means “a structure or other manmade improvement that can be readily and completely dismantled and/or removed from the site when the authorized use terminates. The term does not include a cabin.” http://search.uslegal.com Pre-bid conferences -Conferences held in order for the owner and design team to clearly communicate information, be it technical or procedural, to bidding contractors. (GRHC) http://www.greenrooftechnology.com Definition of 'Inventory' The raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale. Inventory represents one of the most important assets that most businesses possess, because the turnover of inventory represents one of the primary sources of revenue generation and subsequent earnings for the company's shareholders/owners. http://www.investopedia.com/ bookkeeping The systematic recording of a company's financial transactions. The two most common bookkeeping methods are single-entry and double-entry. progress report An assessment that takes place during a project or process, that conveys details such as what sub-goals have been accomplished, what resources have been expended, what problems have been encountered, and whether the project or process is expected to be completed on time and within budget. Progress reports are used by management to determine whether changes are necessary to an ongoing effort. request for change
supervising.e. modify and/or revise the particular sections in the Bid Data Sheet.thefreedictionary. the act of supplying with or using documents or references 2. Most commonly. supplement. it states what needs to be accomplished. as they shall form part of the CONTRACT DOCUMENTS. A change request is declarative. Periodic supervision. as in a court of law http://www. Purchasing may also involve (a) development and review of the product specifications.html#ixzz2LAAcQLac documentation 1.pagcor. The Bidders shall take note of the following items carefully and consider them in the preparation of their bid proposals. or has the potential to become unionized.investorglossary. (c) advertising for bids. (b) receipt and processing of requisitions.com/ This Bid Bulletin is issued to clarify. labor relations refers to dealings between management and a workforce that is already unionized. i. Schedule of Requirements and Technical Specifications as stipulated in the Bidding Documents issued prior to this date. http://www.ph/ Labor relations can refer broadly to any dealings between management and workers about employment conditions. (f) inspection of good received. (e) award of supply contracts. (Law) the furnishing and use of documentary evidence. oversight management by overseeing the performance or operation of a person or group http://www.com/541/bookkeeping. (3) maintain the flow of inputs to maintain the flow of outputs. superintendence.investorwords.The major objectives of purchasing are to (1) maintain the quality and value of a company's products.com/ . http://www. the documents or references supplied 3.A change request is a document containing a call for an adjustment of a system. and (4) strengthen the organization's competitive position. (d) bid evaluation. and (g) their appropriate storage and release. however. (2) minimize cash tied-up in inventory. but leaves out how the change should be carried out. it is of great importance in the change management process. purchasing The activity of acquiring goods or services to accomplish the goals of an organization.
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