InEight Glossary

A

account code structure

A unique coding structure for each client and is the foundation for benchmarking. Typically cost breakdown structure (CBS) scope items have an account code associated with each item.

accrued cost

Used for job tracking. Instead of documenting actual costs, such as, material invoices, the user might choose to accrue certain cost categories, for example, materials. The actual costs are displayed based upon the percent complete of the item.

ad hoc resource

A new resource created by the user for a specific project.

allocated source

The source of the cost item that is to be allocated.

as-built

A feature that lets you specify how costs and quantities are to be used in calculating actual costs.

award

In the quote process, this is the process for choosing who will do the work (that is, the contracto, subcontractor, or vendor). We make the "award".

B

baseline

The values of scope items in an estimate that a project manager commits to. A baseline enables progression of a project and provides forecasting data for reporting, creating new estimates, or simulating "what-if" scenarios.

benchmark

The ability to compare current values to history, such as costs, productions, or man-hours.

budget structure

A grouping of scope items in any type of format (structure) that users might require for project management purposes. The structure can be achieved in any manner such as cost breakdown structure, account coding structure, work breakdown structure; the user selects one of the previous views as the foundation of the budget.

budget unit rate

The cost involved with the manufacturing of a unit, including labor and material; typically formulated as budget divided by quantity.

C

CBS code

The hierarchy of the cost breakdown structure (CBS), for example, 1 = Excavation; 1.1 = truck haul; 1.2 = scraper haul.

consumption rate

The fuel consumption rate for equipment, for example, the number of liters per hour of fuel usage.

cost attributes

Items that affect cost and can be forecast such as quantities, unit cost, production (MH/UOM, UOM/MH), total cost, and cost/category.

cost breakdown structure (CBS)

The main structure used for cost estimating. It is the hierarchy of work activities, called cost items, that make up the estimate.

cost item (CI)

A work activity in a construction project and its associated costs.

cost variable

The unit rate for labor, equipment, material, supplies, or subcontractors.

current budget

The original budget of a scope item plus or minus any changes during the change management process.

D

dependent allocations

The hierarchy allocation relationship of scope items across views, whereby the spreading or suppressing of scalar values is automatically managed by the system based upon how the user allocated across merged views.

detail cost item

A value based upon labor, equipment crews and how fast can they work.

differing site condition

For projects built in environmentally-sensitive areas, owners typically mitigate risk to the contractor by identifying pertinent subsurface or latent physical conditions in its pre-award construction contract.  Ground-penetrating radar and geo-technical boring surveys provide plans and specifications of any subsurface conditions and may be included as part of a contract's site conditions clause.  This clause typically requires the contractor to, at a minimum, inspect and understand the grade level and above-ground job site conditions prior to the start of any construction activities.  The clause may also obligate the contractor to take full responsibility for the site subsurface conditions.

a.     Specific to Change Orders - When a contractor anticipates excavating a site with fairly simple soils but instead encounters unknown rock formations that make excavation materially more difficult and more costly. The contractor must provide timely notice to the owner (via change order request) to demonstrate entitlement to additional contract time and compensation.

E

earned budget

Developed from percent complete; based on quantity of work completed versus budgeted quantity of work. This is what the contractor has billed for and is a function of budget billed to-date in relation to total budget for a specific cost item.

earned man hours

Based on percent complete or quantity of work completed. There is a budgeted amount of man-hours for items of work and earned man-hours are generated by work completed; similar to earned budget but particular to man-hours and based on quantity of work completed.

earning rules

How cost items contribute to the revenue. For example, if a cost items contributes 10% of the revenue, and it is 50% complete, then it has contributed 10% of 50% of the revenue.

earnings amount (Forecast)

The revenue amount as discussed in the definition of earnings rules.

estimate at completion

The cost at the end of the project. Calculated by estimate to completion (ETC) plus to-date cost at time of forecast.

estimate at completion (ETC)

The cost remaining or forecasted cost remaining for a particular cost item. The value is calculated by remaining quantity multiplied by forecasted unit cost.

estimated budget

The currency value of a scope item before baseline is created.

estimated Gain/Loss

A forecast that equals budget minus estimated total cost.

estimated remaining cost

A forecast that equals remaining quantity multiplied by forecasted unit rate.

estimated total cost

A forecast that equals to-date cost plus forecasted remaining cost.

estimated unit rate

A forecast that equals remaining cost divided by remaining quantity.

expense

The actual costs expended that can be manually entered into the system, including labor costs, equipment costs, or materials costs.

F

fixed structure

A structure with a predefined hierarchy; it does not adjust code as users add or move siblings (ACS).

forecast

Used in project controls to predict where costs and hours will end up at project completion.

forecast (T/O) quantity

The quantity measured and used by the contractor of items in the cost breakdown structure, such as 1000 meters, 2000 cubic meters. (T/O) stands for takeoff. Takeoff refers to measuring the quantity of something (for example, how much earth to remove or length of pipe needed or road to pave). This is the quantity expected by the contractor to be used when the job is completed.

forecast finish

The date that the job is expected to finish.

forecast start

The date that the job is expected to start.

forecast structure

For each structure created, forecasting can be achieved. Most projects have a structure that contains atomic-level details and others that contain groupings of these atomic-level details.

G

gain/loss

A formula consisting of Earned minus Actual.

H

historical forecasts

A history of forecasts for the same project; forecasts for completed projects of similar account code work.

I

independent resource

One resource from within a cost item.

J

job management and equipment

Indirect costs that are job related, such as management, tool trucks, and so on.

job overhead cost

Indirect costs that are job related, such as trailers, fencing, yard setup, supervision, and so on.

job properties

A form that sets up up basic rules about how the job is to be calculated or used.

K

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L

library

A storehouse for master data, such as standard shift arrangements, units of measure, and resource (labor, equipment, material) rates.

liquidated damages

Damages incurred if the job is not completed within a time frame, such as $1000 per day.

M

man-hour factors

Factors that describe work scenarios, such as rock, dirt, snow, or deep trench, that a factor can be applied to change work hours for labor.

master data libraries

Libraries defined at an organization level that can be attached to any level within the organization hierarchy. The data can be filtered or customized at any level and can be used by users that belong to that hierarchy.

N

no split (quote management)

Allowing the quoter to split items from their quote in the quote process. They do not have to have all the items they quoted</Defi

non-hourly charge rate

A method for calculating an equipment hourly rate based upon other time measurements, for example the number of hours per month for a monthly costs.

O

open structure

A hierarchy that automatically adjusts code as users add or remove siblings (CBS, WBS, etc.).

organization

The highest level of the organization hierarchy.

original budget

The currency value of a scope item when baseline is created.

owner's estimate

The engineer's estimate of the project.

P

pay quantity

The quantity supplied by the contract owner to determine the unit price (current), for example, 50000 cubic meters. This quantity might be different than the forecast (T/O) quantity measured by the contractor.

phase code

A number scheme for the cost items.

plug

A quick value entered without any detail backup.

price breakdown structure (PBS)

A summary of all costs, direct and indirect, and the job profit. The summation is what InEight calls the target price, that is the total value of the job. This is then compared to the job's total submitted price, to make sure the job is within the total amout required.

production

Measures how much work can be done in a certain time period. For example, it may be estimated that crew could excavate 100 cubic meters per hour.

production periods

A set of consecutive dates where work was performed on cost items that can be consolidated and averaged for use in a forecast.  The forecaster can choose date/period selections.

productivity factor

The ability to factor labor and equipment for productivity issues.

Q

quantity

The amount of an item described as specific scope of work.

R

resource assembly

A group of resources that fall within a terminal cost item.

role

A predefined or user-defined title with sets of permissions that can be assigned to users.

roll up

Scope items that add up (roll up) to the parent budget. Roll up cost variables include total cost, total man-hours, and total quantity (based on contributing scope item).

S

saved view

A layout, which includes specific columns and their arrangement, that is saved for future use.

sub-assembly

A group of resources always assigned to an assembly.

T

terminal cost

The lowest level cost item within a cost item heirarchy. Only the terminal-level cost items can be used for claiming.

Time and Materials

A type of work (or contract) that is cost-reimbursable and can be used when the full value of an agreement and exact quantity of items to be delivered might not be defined by the buyer at the time of contract award.

total budget

An estimate of revenue, cost, and resources over a specified period.

U

unique resource

A catch-all resource type to fill in for resources that do not fit into the other ones. For example, an equipment resource is by the hour. The unique type allows an equipment to be by the month, and charged to the equipment cost category and to labor if desired.

unit cost

The total cost divided by the quantity of work.

unit of measure (UOM)

The definite magnitude of a physical quantity.

user

A person that has specific sign-in credentials and is licensed to use functionality within InEight applications. Users are not resources in InEight and cannot be assigned to work items.

user role

A predefined or user-defined group of permissions that can be applied to a user.

V

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W

WBS element

A structure related to schedules - work breakdown structure. Projects often include several WBS elements forming a WBS hierarchy, such as Award Setup or Research Administration Services.

work breakdown structure (WBS)

A relationship among all the components of a project and the project deliverables. This structure is a grouping of cost breakdown structure (CBS) scope items that is unique and tied to the schedule.

X

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Y

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Z

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