Budget

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Digital Construction (electrical)

term introduced first in PAS 1192 and updated in ISO 19650 framework, it depicts the process of specifying and delivery of project and asset information

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forms a framework that supports informed and consistent decision making by project teams, at each work stage, helping to deliver agreed and reliable information.

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Exchange Information Requirements (EIR) term introduced by BS EN 19650 replace the PAS 1192 term Employer Information Requirements (EIR) on all projects where BS EN ISO 19650 compliance is required.

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The term introduced by ISO 19650 typically describes the Tier 1 Main Contractor.

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breakdown structure to help plan the production of information

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schedule of information containers and delivery dates, for a specific task team

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An MPDT its old PAS 1192 term, the MPDT defines who produces what, when and to what level of detail.

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The tender response for designing, constructing and operating the existing building and the additional extension shall include the project budget’s bid documentation. The budget must incorporate the total amount of financial resources needed for the project’s delivery and operation phase, not only the design and construction but also the maintenance and prospected repairs or asset. Project budget management aims to estimate and control project costs within the approved cost and achieve the project’s defined objectives.

During the design phase of the Office Extension, the team should consider the use of technology and materials taking  into account budget costs associated with capital expenditures (CAPEX) and long term operational expenditures (OPEX) [1]

[1]      M. Kojic, “Project cost management: everything you need to know ,” May 24, 2019. https://clockify.me/blog/business/project-cost-management/ (accessed Jan. 16, 2021).

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