Contract Stages, Contract Payment Schedule, Progress Payment Schedule, or Project Milestones are all to mark specific points along a project timeline.

In most building contracts, the payment schedule is referred to ‘progress claims’. Milestone on the construction contract are time-related Continue reading →

Cost estimating is the process of calculating the costs involved to deliver the project—an approximation of costs likely to be incurred. Accuracy is dependent on the information available. Cost estimating depends on many elements, including labour, materials, financial expenses and Continue reading →

Prime Cost and Provisional Sums items are those costs that cannot be accurately costed in the contract stage. So, Builders or Estimators just do their best guesses and calculate it as an allowance. It saves time in going to contract Continue reading →

Waste is an unwanted product or material. Waste can be defined as a non-value-adding work. The term non-value-adding activity is used to differentiate between physical construction waste found on-site and other waste which occurs during the construction process.

Wastes have Continue reading →