Terminology - E
E&OE
Errors and Omissions Excepted - escape clause commonly used to cover mistakes in quotation. (A.C.E)
E.C.G.D.
An abbreviation of the name EXPORT CREDIT GUARANTEE DEPARTMENT, being an official U.K. Government office for the insurance of payment on overseas sales or contracts. (A.C.E)
Earliest Expected Time (TE)
See EARLIEST OCCURRENCE. (FLUOR)
Earliest Finnish (EF)
The earliest date or time on which an activity can be completed, subject to the constraints of the network prior to and including the activity in question. The value of (EF) is equal to the sum of the expected activity times for the activities on the longest path from the beginning of the network up to and including the given activity.
(FLUOR)
Earliest Occurrence (EO)
The earliest date or time on which an event can occur, subject to the constraints of the network prior to the event in question. (FLUOR)
Earliest Start (ES)
The earliest date or time on which an activity can start, subject to the constraints of the network prior to the activity in question. The value of (ES) is equal to the sum of the expected activity times for the activities on the longest path from the beginning of the network up to the given activity' but excluding the given activity. (FLUOR)
Early Warning
Term commonly used in respect of possible cost over-run identified or perceived in sufficient time to permit remedial action. (A.C.E)
Earned
Income actual income value to date of services rendered, work performed or materials supplied. (ACE)
Earned Man-hours
Man-hour budget for work completed, calculated as budget man-hours x actual % complete. (ACE.)
Earned Man-hours are defined as the number of budget man-hours that should have been used to attain the measured progress. (E.M.S)
Earned Value
Budget value for work completed, calculated as budget cost x actual % complete (see also BUDGET COST OF WORK PERFORMED). (ACE)
Earnings
A reward or payment for the supply of service or invested capital. (ACE.)
or
A reward or payment for the supply of labour. (ACE.)
or
Rewards or payments for the supply of materials. (ACE.)
Earnings Per Cent or Sales
The percentage relationship between earnings and sales or the profit margin returned in terms of sales value. (ACE)
ECGD
Export Credit Guarantee Department - an official UK Government office for insurance of payment on overseas sales or contracts. (ACE)
Economic Life
The period during which capital or consumable goods remain efficient or useful. (ACE.)
Economic Optimum
The best possible combination of supply. demand and productive efficiency. (ACE)
Effective Construction
The date, usually following the move-in of construction offices, tools and facilities, when a representative force of craftsmen start work on construction activities.
(FLUOR)
Effective Date
Cut-off date for transactions included in a cost, progress or other report. (ACE)
Efficiency
See PRODUCTIVITY. (ACE)
Efficiency Factor
See PRODUCTIVlTY FACTOR. (ACE)
Efficiency Ratio
The standard hours equivalent to the work produced, expressed as a percentage of the actual hours spent in producing that work. (ICWA.)
Elapsed Time
The total time estimated to complete an activity, including time required for the transmittal of information, delays, waiting period, etc. (FLUOR)
Element
See COST ELEMENT or WORK ELEMENT. (A.C.E.)
or
A component which irrespective of construction or specification tends to perform the same function or functions. (ACE)
Employee Benefits
The cost of incentives over the standard rate of wages, remuneration or salary. Sometimes known as FRINGE BENEFITS. (ACE)
Employment of Capital
This is normally the statement of assets shown on the balance sheet of a business organisation, summarising how the available capital and reserves are being utilised and is usually the summation of the following:- (1) Fixed Assets (2) Stocks (3) Trade Investments (4) Debtors (5) Cash at Bank (6) Cash in Hand. (ACE)
EMS Project Valve
Is defined as the total amount of money, including salaries, reimbursable and fee, which the client will pay Engineering Management Services, Ltd., for performing the defined scope of the work set out in the contract. It represents the initial project value as adjusted for any changes in scope which may increase or decrease the project according to the nature of the authorised changes. (EMS)
Ending Event (EE)
The event which signifies the completion of one or more activities in a network. An event with preceding but without succeeding activities. (FLUOR)
Engineering Change Order
Is defined as any instruction to make changes to the defined scope of the project or alterations to any work already started or completed, which will lead to additional work having to be done by engineering and drawing office personnel. This additional work will involve additional cost of salaries and reimbursable of the personnel involved. (EMS)
Engineering Cost
The sum total of all expenditure, including profit incurred in making surveys and tests and producing complete drawings and specifications for a project. Included are the salaries and overheads for administration, engineering, drafting, purchasing, estimating, expediting, communications and reproductions and supervision of construction. (ACE)
Engineering Design
1. The process of study and evaluation of methods.
2. The process of planning and evaluation of a plant after the process has been chosen, consisting of preparation of detailed plans, specifications and layouts from which construction can be performed directly. (ACE)
Engineering Economics
A scientific approach to determination of the optimum non-hazardous engineering course to follow, based on supply, demand and productive efficiency principles. (ACE)
Engineering Fee
The sum paid for ENGINEERING DESIGN. (ACE)
Engineering Fees
Total payment to an engineering contractor; similar to ARCHITECT'S FEE, includes profit. (FLUOR)
Engineering Management Costs
Are defined as the salaries and reimbursable of the personnel directly involved in the design of the project and the production and handling of drawings. (EMS)
Engineering Progress Report
A measure of engineering progress (percent complete). Engineering progress as opposed to total home office expense is comprised of those activities engaged in the gainful design of the facilities and production of construction drawings. The disciplines involved are process, project, instrumentation, electrical, piping, vessels, mechanical engineering and structural. These activities are weighted initially by estimated man-hours and reports are prepared periodically based on physical percent completion for the total project (engineering) is the summary of the weighted activities. (FLUOR)
Entry
Either an addition or a deduction from an account. (ACE)
EP and C
Engineering, Procurement and Construction - term commonly used in respect of contract services provided. (ACE)
Equipment
Is defined as the costs incurred on a project to manufacture, supply, transport and install the equipment defined in the scope of the contract. These items fall within the Engineering Management Services, Ltd., cost code list D to M inclusive, and have, in addition, equipment numbers. (EMS)
Equipment Cost
1. Delivered capital cost of permanent machinery and plant.
2. Purchase or rental cost of construction equipment. (ACE)
Equipment Leasing
A method of obtaining temporary mechanical plant through contract rental which does not require a fixed investment and does not entail ownership. Tax treatment depends on the detailed contractual arrangements, such as options to purchase, etc. (ACE.)
Equipment List
Standard front-end design document identifying and. listing all items of major equipment on a project. (ACE.)
Equipment List
Is defined as a list of equipment for the project, the basis prepared by the Project Engineers, and which forms of the BASE OF-THE-ESTIMATE. (EMS)
Erected Cost
Total cost of erected equipment, facilities, structures or buildings inclusive of engineering, material, fabrication, erection, etc. (ACE)
Erection
Installation of equipment, materials, structures, etc. on site. (ACE)
or
The installation of plant on site. (ACE)
Ergonomics
A scientific study known as human engineering concerned with the relationship between man and machines. (Time and motion study.) (ACE)
Escalated Cost
Any cost inclusive of either actual or estimated escalation. (ACE)
Escalation
Increase in cost due to inflationary movements, as measured from a defined base date. (ACE)
or
1. The rise and fail of prices.
2. The provision in actual or estimated costs for increases in the costs of equipment, material, labour, etc., over those specified, due to continuing inflation, etc.
3. An allowance for increase in costs of labour and materials. (ACE)
or
Is defined as an amount of money to be added to an estimate to allow for the inflationary increase in costs. Known historical escalation rates are trended into the future to predict future escalation rates. (EMS)
or
The provision in actual or estimated costs for an increase in the cost of equipment, material, labour, etc., over those specified in the contract, due to continuing price level changes over time. (FLUOR)
Escalating Indices
.
Estimate
Assessment and evaluation of anticipated scope of work, as expressed in terms of quantities, man-hours, costs or other measurable phenomena. (ACE)
or
1. Any approximation of conditions, past, present, or future. The level of the variable which is believed to have 50%chance of achievement. In this glossary, estimates of fixed investment are defined in the following order of increasing accuracy Order-of-Magnitude, Study, Budget, Project Control and Firm.
2. A quotation figure forecast to limits of accuracy compatible with the use to which it is to be put and the policy decisions at stake.
3. A forecast made in advance, of the expected cost of a project.
4. A compilation of quantities and unit costs of all the components of a defined project. (ACE)
or
Is defined as a judgement decision as to what the value of a quantity or a cost will be in the absence of specific knowledge. (EMS)
or
An evaluation of all the costs of the elements of project or effort as defined by an agreed-upon scope. (FLUOR)
Estimate at Completion (EAC)
The sum of the ACTUAL COST (A) and the ESTIMATE TO COMPLETE (ETC) for a work package or a summary work package, i.e., EAC=A + ETC Synonymous with LATEST REVISED ESTIMATE (LRE). See ESTIMATE TO COMPLETE. (FLUOR)
Estimate Authorisation
Approval of an estimate by established authority. (ACE)
or
Approval to expend within budgeted limits. (ACE)
Estimate Basis
Formal document defining all conditions and assumptions upon which a prepared estimate is based. (ACE)
Estimate Classification
Method of categorising estimates within particular levels of detail and expected accuracy. (e.g. CLASS I, CLASS II and CLASS III ESTIMATES). (ACE)
Estimate Cost at Completion
Is defined as the actual cost of the work already completed plus the estimated cost to complete the outstanding work. (EMS)
Estimate Evaluation
The adjudication of alternative offers to select the economic optimum. (ACE)
Estimate Reliability
Expression of confidence in stated level of estimate accuracy. (ACE)
Estimate To Complete (ETC)
Estimate of remaining costs, man-hours or quantities to completion, as measured from a defined base. (ACE)
or
Is defined as the cost of completing the work as calculated, estimated or determined in any other way, at the time of measurement or review. (1) procured items - the balance of the anticipated cost still to be committed and(or delivered. (2) all contracts (including Management Contracts) - the cost of the outstanding work, determined from known or estimated rates for the work. (EMS)
or
The estimated resources or money required to complete a work package or summary work package. (FLUOR)
Estimated Cost to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimated Man-hours to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimated Quantities to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimating Factors
The classified components of the project forecast, normally arranged in order of magnitude and whose sum constitutes a total estimate. These factors will differ depending on the nature of the project. (ACE)
Estimating Rates
The cost of unit quantities of material, labour, services or other factors, determined by experience, practice or policy, for the purpose of forecasting project costs. (ACE)
Evaluation Estimate
See CLASS Ill ESTIMATE (A.CE)
Event
A discrete point in the progress of a project which in itself neither consumes time nor resources but which serves as a specific definable accomplishment. (FLUOR)
Event Notice Entry
A special form of temporary entity; an announcement of the occurrence of an event. See TEMPORARY ENTITY. (FLUOR)
Event Report
A report listing events and related data in event number, expected occurrence, event slack sequence, or other appropriate sorted orders, depending upon the user's requirements. (FLUOR)
Event-On-Node Network
A network in which the nodes symbolise the events. (FLUOR)
Event-Oriented Network
A network characterised by the description of events independently of the kind of presentation; data usually are attached to events. The flow of the project is broken down into sequences of events. (FLUOR)
Ex Quay (Duty Paid)
Supply of goods for which all unloading from ship to wharf, and all import duties, taxes and customs clearance are to the seller's account. (ACE)
Ex Quay (Duties on Buyer's Account)
A contract for the supply of goods as above, but in this case the duties and all importation taxes and expenses are payable by the buyer. (ACE)
Ex Quay (Duty Paid)
The supply of goods in conformity with a contract and including the placing of these goods at the seller's expense, on to a wharf or alongside ship. The seller also is responsible for import licence, duties, taxes and cost of customs clearance. (ACE)
Ex Quay (Duty to Buyer's A/C)
Supply of goods for which all import duties and taxes are to the buyer's account. (ACE.)
Ex Ship
Supply of goods for which all unloading, documentation, handling charges, and all import duties and taxes, are to the buyer's account. (ACE)
or
The supply of goods in conformity with a contract and the placing of the goods by the seller, at the usual loading point. on board the vessel, in the named port, to enable the buyer to arrange for removal of the goods from the vessel by unloading equipment. The buyer has responsibility for customs duties, taxes and other clearance expenses, including documentation charges incurred by the seller. (ACE)
Ex Works
Supply of goods at the factory, mill, warehouse, etc., for which the seller is responsible for all packing and loading. (ACE)
or
The supply of goods in conformity with a contract and including loading into a conveyance provided by the buyer. The seller is responsible for packing, if any, that is necessary to enable the buyer to take delivery. (Synonymous terms are EX FACTORY, EX-MILL, EX-WAREHOUSE, etc.)(ACE)
Excess Capacity
The productive capacity not in use. (A.CE)
Expansion
Any increase in the capacity of a plant or a process unit usually by added investment. Application of the term extends from bottleneck removal to entire replacement of an existing facility with a larger one. (ACE)
or
Any increase in the capacity of a plant facility or unit, usually by added investment. Scope of its possible application extends from the elimination of problem areas to the complete replacement of an existing facility with a larger one. (FLUOR)
Expected Dates
The expected start and expected completion (or finish) of an activity and the expected date of an event are exactly the same as what is also known as the early start and early finish of the activity and the early date of the event. (FLUOR)
Expected Standard
The performance which is anticipated can be attained during a specified budget period. (ACE)
Expected Time (PERT System Only)
The time expected to be consumed by an activity, derived from the relationship
ET = (OT + 4MT + PT) where (OT) is the OPTIMISTIC 6 TIME, (MT) is the MOST
LIKELY TIME, and (PT) is
the PESSIMISTIC TIME.
(FLUOR)
Expected Value Model
A model in which the expected values (or means) are assigned to the chance parameters. See STOCHASTIC MODEL. (FLUOR)
Expended Cost
Cost actually incurred. (ACE)
Expended Man-hours
Man-hours actually spent. (ACE)
Expenditure
Value of all invoices and charges paid or approved for payment. (ACE)
or
Is defined as an amount of money which has been paid. (EMS)
Expenditure Curve
See CASH FLOW CURVE. (EMS)
Expenditure Proposal
A request to authorised executives for sanction to expend money on a project. The proposal contains a brief description of the project and its purpose and in the case of production plants, an assessment of profitability. (ACE)
Expense
1. The money paid out by a business in the course of its operation.
2. The cost of services provided to an undertaking and the notional cost of the use of owned assets.(I. C. WA)
Expense Analysis
A classified record of costs showing the component parts of total expense. (ACE)
Expense Apportionment
The allocation of overhead costs to production departments, service units, etc. (ACE)
Expense Price Variance
The portion of cost variance which is due to the difference between the standard rate of the service specified and the actual value paid. (ACE)
Expense Utilisation Variance
The portion of the cost which is due to the difference between the standard quantity of the service specified and the actual quantity of the service used. (ACE)
Expense Variance
The difference between the standard cost specified and the actual cost incurred. (I.C W.A.)
Exponential Factor
The relationship between cost and size, expressed as an equation.
C2=C1( )~
Where C1 = Cost of unit 1
C2 = Cost of unit 2
p = Exponent
S1 = Capacity unit 1
S2 = Capacity unit 2
(ACE)
Extra Work
Any work over and above contract scope, either requested or executed. (ACE)
Errors and Omissions Excepted - escape clause commonly used to cover mistakes in quotation. (A.C.E)
E.C.G.D.
An abbreviation of the name EXPORT CREDIT GUARANTEE DEPARTMENT, being an official U.K. Government office for the insurance of payment on overseas sales or contracts. (A.C.E)
Earliest Expected Time (TE)
See EARLIEST OCCURRENCE. (FLUOR)
Earliest Finnish (EF)
The earliest date or time on which an activity can be completed, subject to the constraints of the network prior to and including the activity in question. The value of (EF) is equal to the sum of the expected activity times for the activities on the longest path from the beginning of the network up to and including the given activity.
(FLUOR)
Earliest Occurrence (EO)
The earliest date or time on which an event can occur, subject to the constraints of the network prior to the event in question. (FLUOR)
Earliest Start (ES)
The earliest date or time on which an activity can start, subject to the constraints of the network prior to the activity in question. The value of (ES) is equal to the sum of the expected activity times for the activities on the longest path from the beginning of the network up to the given activity' but excluding the given activity. (FLUOR)
Early Warning
Term commonly used in respect of possible cost over-run identified or perceived in sufficient time to permit remedial action. (A.C.E)
Earned
Income actual income value to date of services rendered, work performed or materials supplied. (ACE)
Earned Man-hours
Man-hour budget for work completed, calculated as budget man-hours x actual % complete. (ACE.)
Earned Man-hours are defined as the number of budget man-hours that should have been used to attain the measured progress. (E.M.S)
Earned Value
Budget value for work completed, calculated as budget cost x actual % complete (see also BUDGET COST OF WORK PERFORMED). (ACE)
Earnings
A reward or payment for the supply of service or invested capital. (ACE.)
or
A reward or payment for the supply of labour. (ACE.)
or
Rewards or payments for the supply of materials. (ACE.)
Earnings Per Cent or Sales
The percentage relationship between earnings and sales or the profit margin returned in terms of sales value. (ACE)
ECGD
Export Credit Guarantee Department - an official UK Government office for insurance of payment on overseas sales or contracts. (ACE)
Economic Life
The period during which capital or consumable goods remain efficient or useful. (ACE.)
Economic Optimum
The best possible combination of supply. demand and productive efficiency. (ACE)
Effective Construction
The date, usually following the move-in of construction offices, tools and facilities, when a representative force of craftsmen start work on construction activities.
(FLUOR)
Effective Date
Cut-off date for transactions included in a cost, progress or other report. (ACE)
Efficiency
See PRODUCTIVITY. (ACE)
Efficiency Factor
See PRODUCTIVlTY FACTOR. (ACE)
Efficiency Ratio
The standard hours equivalent to the work produced, expressed as a percentage of the actual hours spent in producing that work. (ICWA.)
Elapsed Time
The total time estimated to complete an activity, including time required for the transmittal of information, delays, waiting period, etc. (FLUOR)
Element
See COST ELEMENT or WORK ELEMENT. (A.C.E.)
or
A component which irrespective of construction or specification tends to perform the same function or functions. (ACE)
Employee Benefits
The cost of incentives over the standard rate of wages, remuneration or salary. Sometimes known as FRINGE BENEFITS. (ACE)
Employment of Capital
This is normally the statement of assets shown on the balance sheet of a business organisation, summarising how the available capital and reserves are being utilised and is usually the summation of the following:- (1) Fixed Assets (2) Stocks (3) Trade Investments (4) Debtors (5) Cash at Bank (6) Cash in Hand. (ACE)
EMS Project Valve
Is defined as the total amount of money, including salaries, reimbursable and fee, which the client will pay Engineering Management Services, Ltd., for performing the defined scope of the work set out in the contract. It represents the initial project value as adjusted for any changes in scope which may increase or decrease the project according to the nature of the authorised changes. (EMS)
Ending Event (EE)
The event which signifies the completion of one or more activities in a network. An event with preceding but without succeeding activities. (FLUOR)
Engineering Change Order
Is defined as any instruction to make changes to the defined scope of the project or alterations to any work already started or completed, which will lead to additional work having to be done by engineering and drawing office personnel. This additional work will involve additional cost of salaries and reimbursable of the personnel involved. (EMS)
Engineering Cost
The sum total of all expenditure, including profit incurred in making surveys and tests and producing complete drawings and specifications for a project. Included are the salaries and overheads for administration, engineering, drafting, purchasing, estimating, expediting, communications and reproductions and supervision of construction. (ACE)
Engineering Design
1. The process of study and evaluation of methods.
2. The process of planning and evaluation of a plant after the process has been chosen, consisting of preparation of detailed plans, specifications and layouts from which construction can be performed directly. (ACE)
Engineering Economics
A scientific approach to determination of the optimum non-hazardous engineering course to follow, based on supply, demand and productive efficiency principles. (ACE)
Engineering Fee
The sum paid for ENGINEERING DESIGN. (ACE)
Engineering Fees
Total payment to an engineering contractor; similar to ARCHITECT'S FEE, includes profit. (FLUOR)
Engineering Management Costs
Are defined as the salaries and reimbursable of the personnel directly involved in the design of the project and the production and handling of drawings. (EMS)
Engineering Progress Report
A measure of engineering progress (percent complete). Engineering progress as opposed to total home office expense is comprised of those activities engaged in the gainful design of the facilities and production of construction drawings. The disciplines involved are process, project, instrumentation, electrical, piping, vessels, mechanical engineering and structural. These activities are weighted initially by estimated man-hours and reports are prepared periodically based on physical percent completion for the total project (engineering) is the summary of the weighted activities. (FLUOR)
Entry
Either an addition or a deduction from an account. (ACE)
EP and C
Engineering, Procurement and Construction - term commonly used in respect of contract services provided. (ACE)
Equipment
Is defined as the costs incurred on a project to manufacture, supply, transport and install the equipment defined in the scope of the contract. These items fall within the Engineering Management Services, Ltd., cost code list D to M inclusive, and have, in addition, equipment numbers. (EMS)
Equipment Cost
1. Delivered capital cost of permanent machinery and plant.
2. Purchase or rental cost of construction equipment. (ACE)
Equipment Leasing
A method of obtaining temporary mechanical plant through contract rental which does not require a fixed investment and does not entail ownership. Tax treatment depends on the detailed contractual arrangements, such as options to purchase, etc. (ACE.)
Equipment List
Standard front-end design document identifying and. listing all items of major equipment on a project. (ACE.)
Equipment List
Is defined as a list of equipment for the project, the basis prepared by the Project Engineers, and which forms of the BASE OF-THE-ESTIMATE. (EMS)
Erected Cost
Total cost of erected equipment, facilities, structures or buildings inclusive of engineering, material, fabrication, erection, etc. (ACE)
Erection
Installation of equipment, materials, structures, etc. on site. (ACE)
or
The installation of plant on site. (ACE)
Ergonomics
A scientific study known as human engineering concerned with the relationship between man and machines. (Time and motion study.) (ACE)
Escalated Cost
Any cost inclusive of either actual or estimated escalation. (ACE)
Escalation
Increase in cost due to inflationary movements, as measured from a defined base date. (ACE)
or
1. The rise and fail of prices.
2. The provision in actual or estimated costs for increases in the costs of equipment, material, labour, etc., over those specified, due to continuing inflation, etc.
3. An allowance for increase in costs of labour and materials. (ACE)
or
Is defined as an amount of money to be added to an estimate to allow for the inflationary increase in costs. Known historical escalation rates are trended into the future to predict future escalation rates. (EMS)
or
The provision in actual or estimated costs for an increase in the cost of equipment, material, labour, etc., over those specified in the contract, due to continuing price level changes over time. (FLUOR)
Escalating Indices
.
Estimate
Assessment and evaluation of anticipated scope of work, as expressed in terms of quantities, man-hours, costs or other measurable phenomena. (ACE)
or
1. Any approximation of conditions, past, present, or future. The level of the variable which is believed to have 50%chance of achievement. In this glossary, estimates of fixed investment are defined in the following order of increasing accuracy Order-of-Magnitude, Study, Budget, Project Control and Firm.
2. A quotation figure forecast to limits of accuracy compatible with the use to which it is to be put and the policy decisions at stake.
3. A forecast made in advance, of the expected cost of a project.
4. A compilation of quantities and unit costs of all the components of a defined project. (ACE)
or
Is defined as a judgement decision as to what the value of a quantity or a cost will be in the absence of specific knowledge. (EMS)
or
An evaluation of all the costs of the elements of project or effort as defined by an agreed-upon scope. (FLUOR)
Estimate at Completion (EAC)
The sum of the ACTUAL COST (A) and the ESTIMATE TO COMPLETE (ETC) for a work package or a summary work package, i.e., EAC=A + ETC Synonymous with LATEST REVISED ESTIMATE (LRE). See ESTIMATE TO COMPLETE. (FLUOR)
Estimate Authorisation
Approval of an estimate by established authority. (ACE)
or
Approval to expend within budgeted limits. (ACE)
Estimate Basis
Formal document defining all conditions and assumptions upon which a prepared estimate is based. (ACE)
Estimate Classification
Method of categorising estimates within particular levels of detail and expected accuracy. (e.g. CLASS I, CLASS II and CLASS III ESTIMATES). (ACE)
Estimate Cost at Completion
Is defined as the actual cost of the work already completed plus the estimated cost to complete the outstanding work. (EMS)
Estimate Evaluation
The adjudication of alternative offers to select the economic optimum. (ACE)
Estimate Reliability
Expression of confidence in stated level of estimate accuracy. (ACE)
Estimate To Complete (ETC)
Estimate of remaining costs, man-hours or quantities to completion, as measured from a defined base. (ACE)
or
Is defined as the cost of completing the work as calculated, estimated or determined in any other way, at the time of measurement or review. (1) procured items - the balance of the anticipated cost still to be committed and(or delivered. (2) all contracts (including Management Contracts) - the cost of the outstanding work, determined from known or estimated rates for the work. (EMS)
or
The estimated resources or money required to complete a work package or summary work package. (FLUOR)
Estimated Cost to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimated Man-hours to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimated Quantities to Complete
See ESTIMATE TO COMPLETE (ACE)
Estimating Factors
The classified components of the project forecast, normally arranged in order of magnitude and whose sum constitutes a total estimate. These factors will differ depending on the nature of the project. (ACE)
Estimating Rates
The cost of unit quantities of material, labour, services or other factors, determined by experience, practice or policy, for the purpose of forecasting project costs. (ACE)
Evaluation Estimate
See CLASS Ill ESTIMATE (A.CE)
Event
A discrete point in the progress of a project which in itself neither consumes time nor resources but which serves as a specific definable accomplishment. (FLUOR)
Event Notice Entry
A special form of temporary entity; an announcement of the occurrence of an event. See TEMPORARY ENTITY. (FLUOR)
Event Report
A report listing events and related data in event number, expected occurrence, event slack sequence, or other appropriate sorted orders, depending upon the user's requirements. (FLUOR)
Event-On-Node Network
A network in which the nodes symbolise the events. (FLUOR)
Event-Oriented Network
A network characterised by the description of events independently of the kind of presentation; data usually are attached to events. The flow of the project is broken down into sequences of events. (FLUOR)
Ex Quay (Duty Paid)
Supply of goods for which all unloading from ship to wharf, and all import duties, taxes and customs clearance are to the seller's account. (ACE)
Ex Quay (Duties on Buyer's Account)
A contract for the supply of goods as above, but in this case the duties and all importation taxes and expenses are payable by the buyer. (ACE)
Ex Quay (Duty Paid)
The supply of goods in conformity with a contract and including the placing of these goods at the seller's expense, on to a wharf or alongside ship. The seller also is responsible for import licence, duties, taxes and cost of customs clearance. (ACE)
Ex Quay (Duty to Buyer's A/C)
Supply of goods for which all import duties and taxes are to the buyer's account. (ACE.)
Ex Ship
Supply of goods for which all unloading, documentation, handling charges, and all import duties and taxes, are to the buyer's account. (ACE)
or
The supply of goods in conformity with a contract and the placing of the goods by the seller, at the usual loading point. on board the vessel, in the named port, to enable the buyer to arrange for removal of the goods from the vessel by unloading equipment. The buyer has responsibility for customs duties, taxes and other clearance expenses, including documentation charges incurred by the seller. (ACE)
Ex Works
Supply of goods at the factory, mill, warehouse, etc., for which the seller is responsible for all packing and loading. (ACE)
or
The supply of goods in conformity with a contract and including loading into a conveyance provided by the buyer. The seller is responsible for packing, if any, that is necessary to enable the buyer to take delivery. (Synonymous terms are EX FACTORY, EX-MILL, EX-WAREHOUSE, etc.)(ACE)
Excess Capacity
The productive capacity not in use. (A.CE)
Expansion
Any increase in the capacity of a plant or a process unit usually by added investment. Application of the term extends from bottleneck removal to entire replacement of an existing facility with a larger one. (ACE)
or
Any increase in the capacity of a plant facility or unit, usually by added investment. Scope of its possible application extends from the elimination of problem areas to the complete replacement of an existing facility with a larger one. (FLUOR)
Expected Dates
The expected start and expected completion (or finish) of an activity and the expected date of an event are exactly the same as what is also known as the early start and early finish of the activity and the early date of the event. (FLUOR)
Expected Standard
The performance which is anticipated can be attained during a specified budget period. (ACE)
Expected Time (PERT System Only)
The time expected to be consumed by an activity, derived from the relationship
ET = (OT + 4MT + PT) where (OT) is the OPTIMISTIC 6 TIME, (MT) is the MOST
LIKELY TIME, and (PT) is
the PESSIMISTIC TIME.
(FLUOR)
Expected Value Model
A model in which the expected values (or means) are assigned to the chance parameters. See STOCHASTIC MODEL. (FLUOR)
Expended Cost
Cost actually incurred. (ACE)
Expended Man-hours
Man-hours actually spent. (ACE)
Expenditure
Value of all invoices and charges paid or approved for payment. (ACE)
or
Is defined as an amount of money which has been paid. (EMS)
Expenditure Curve
See CASH FLOW CURVE. (EMS)
Expenditure Proposal
A request to authorised executives for sanction to expend money on a project. The proposal contains a brief description of the project and its purpose and in the case of production plants, an assessment of profitability. (ACE)
Expense
1. The money paid out by a business in the course of its operation.
2. The cost of services provided to an undertaking and the notional cost of the use of owned assets.(I. C. WA)
Expense Analysis
A classified record of costs showing the component parts of total expense. (ACE)
Expense Apportionment
The allocation of overhead costs to production departments, service units, etc. (ACE)
Expense Price Variance
The portion of cost variance which is due to the difference between the standard rate of the service specified and the actual value paid. (ACE)
Expense Utilisation Variance
The portion of the cost which is due to the difference between the standard quantity of the service specified and the actual quantity of the service used. (ACE)
Expense Variance
The difference between the standard cost specified and the actual cost incurred. (I.C W.A.)
Exponential Factor
The relationship between cost and size, expressed as an equation.
C2=C1( )~
Where C1 = Cost of unit 1
C2 = Cost of unit 2
p = Exponent
S1 = Capacity unit 1
S2 = Capacity unit 2
(ACE)
Extra Work
Any work over and above contract scope, either requested or executed. (ACE)
