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A cost estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator , or electrical estimator, or chief estimator.
Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract.
Zazzle is an American online marketplace that allows designers and customers to create their own products with independent manufacturers (clothing, posters, etc.), as well as use images from participating companies.
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Construction cost - the total cost to construct a project. This value usually does not include the preplanning, site or right of way acquisition, or design costs, and may not include start-up and commissioning costs. This total or subtotal is usually identified as such in an estimate report.
Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.
The Lang Factor is an estimated ratio of the total cost of creating a process within a plant, to the cost of all major technical components. It is widely used in industrial engineering to calculate the capital and operating costs of a plant.
The black budget is mostly classified because of security reasons. A black budget can be complicated to calculate, but in the United States it has been estimated to be over US$50 billion a year, taking up approximately 7 percent of the US$700 billion military budget.
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In mathematical finance, a Monte Carlo option model uses Monte Carlo methods [Notes 1] to calculate the value of an option with multiple sources of uncertainty or with complicated features. [1] The first application to option pricing was by Phelim Boyle in 1977 (for European options ).