Construction terms, in plain words
Short definitions with a formula and a worked example where one helps. Written for contractors, not accountants.
Bill of quantities (BOQ)
What is a bill of quantities (BOQ)?
Budget versus actual
How do you track budget versus actual cost on a construction site?
Cement consumption per cubic metre
How much cement is needed per cubic metre of concrete?
Committed cost
What is committed cost on a construction project?
Comparative statement of quotations
What is a comparative statement of quotations?
Construction ERP
What is construction ERP software?
Daily progress report (DPR)
What is a daily progress report (DPR) in construction?
Defect liability period
What is the defect liability period?
Fuel consumption per hour
How do you check the diesel consumption of construction machines?
Goods received note (GRN)
What is a goods received note (GRN)?
Landed cost
What is landed cost in construction purchasing?
Material reconciliation
What is material reconciliation in construction?
Material requisition (indent)
What is a material requisition or indent?
Muster roll
What is a muster roll on a construction site?
Purchase order
What should a construction purchase order contain?
Retention money
What is retention money in a construction contract?
Running account bill (RA bill)
What is an RA bill in construction?
Three-way matching
What is three-way matching of supplier bills?
Variation order
What is a variation order in construction?
Wastage allowance
What is an acceptable wastage allowance for construction materials?
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