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The BuildBook Construction Glossary
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Allowance
An allowance is an amount of money set aside in a construction project to cover the cost of materials and services that have yet to be determined.
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Assembly
An assembly is a cost item that may include the labor, material, and equipment needed to construct a project component.
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Change Order
A Change Order in residential construction is a legal document that can be used to alter or modify an already existing contract between two parties.
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Construction Estimate
A construction estimate is a document prepared by a contractor or estimator that provides a potential client with an estimated cost for their proposed construction project.
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Construction Estimating Software
Construction estimating software is an application designed to help streamline and improve the estimating process for construction projects.
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Construction Management
Construction management is the comprehensive planning, coordination, execution, and control of all processes involved in the development and completion of a construction project.
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Construction Management Software
Construction management software is an application that assists in the creation and implementation of construction projects.
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Construction Manager
A construction manager is an individual with specialized expertise and knowledge in managing various aspects of construction projects.
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Construction Scheduling Software
Construction scheduling software is an application used to create, manage, and optimize working timelines for construction projects.
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Cost Category
A cost category is an individual division that allows you to organize your cost codes with numeric alignment.
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Cost Code
A cost code is a classification used to map individual project costs for accounting as well as financial reporting.
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Cost Library
A cost library or price book is a list of standard construction costs for items, products, and services that are offered.
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Cost-Plus Contract
A cost-plus fee contract is an agreement whereby the client agrees to pay all of the project costs plus a set fee to the contractor for managing the project.
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Daily Log
A daily log is a written record of the progress and activities of a construction project on any particular day.
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Dependencies
Dependencies are items within a construction project where one item is dependent on the completion of another item in order for it to begin.
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Design-Build
Design-build is a process whereby a single entity, such as an architect, builder, or contractor, is responsible for both the design and the construction of a project.
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Fixed Fee Contract
A fixed-fee contract is an agreement between a homeowner and a contractor to complete a project for agreed-upon set amount.
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Gantt Chart
A Gantt chart is a type of bar chart used in project management to illustrate the timeline and progress of residential construction projects.
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General Contractor
A general contractor is an individual or company responsible for managing the overall process of a residential construction project.
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Job Costing
Job costing is a method of accounting used to track all the costs associated with a specific construction job or project.
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Lean Construction
Lean construction is a method of optimizing the building process to eliminate or minimize waste and maximize efficiency.
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Lien Waiver
A lien waiver is a legally-binding document which relinquishes one parties right to enforce a lien against another party for services rendered or goods provided.
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Material Selections
Material selections describe the choices and decisions a homeowner makes in regard to the way the home will look when it’s finished.
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Payment Schedule
A payment schedule is a document that outlines the terms and timeline of payments on a construction project.
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Phase
A phase in a construction project is a series of distinct steps taken to complete the entire construction process.
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Production Builder
A production builder is an individual or company that specializes in constructing a large numbers of homes in a housing development.
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Punch List
A punch list is an itemized list of tasks that need to be completed in a construction project before it can be declared as complete.
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Request for Information (RFI)
A request for information (RFI) is a document to ask specific questions about essential aspects of a particular construction project.
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Request for Proposal (RFP)
A request for proposal (RFP) is a document that is created and submitted by a potential contractor to a homeowner or property owner in order to secure a project.
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Scope Creep
Scope creep is when changes or additions are made to an existing project, which have not been included in the initial agreement between the contractor and client.
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Scope of Work
A Scope of Work (SOW) is an agreement between a contractor and a homeowner, specifying the details of the work to be performed.
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Spec Home
A spec home is a term that refers to an unoccupied house built by a builder or developer before the sale of the home has been arranged.
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Subcontractor
A subcontractor is a person or business hired by a general contractor to provide some of the labor, materials, or services required for the overall completion of a construction project.
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Submittal
A submittal is a document or package of documents intended to provide detailed information about the products and materials being supplied for a construction job.
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Takeoff
A construction takeoff is the process of accurately determining and calculating all materials, products, services, and labor required to complete a construction project.
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Task
Tasks are the individual items within each phase of a construction project that need to be completed in order to continue progress.
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Trade School
A trade school is a specialized educational institution that focuses on equipping students with the skills, knowledge, and hands-on training required for various professional trades.
Lien Waiver
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Trade School
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Construction Manager
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Construction Management
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Design-Build
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Spec Home
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Production Builder
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Lean Construction
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Scope Creep
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Construction Scheduling Software
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Construction Estimating Software
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Construction Management Software
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Payment Schedule
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Submittal
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Subcontractor
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General Contractor
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Construction Estimate
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Job Costing
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Request for Proposal (RFP)
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Request for Information (RFI)
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Cost Library
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Cost Category
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Cost Code
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Dependencies
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Task
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Phase
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Assembly
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Allowance
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Takeoff
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Punch List
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Cost-Plus Contract
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Fixed Fee Contract
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Material Selections
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Daily Log
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Gantt Chart
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Scope of Work
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Change Order
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