Hi everyone, I read about the construction cost and I still cannot find out the elements of construction cost? Would any one please tell me about this or tell me some references I can find out. Thanks so much!
The term "cost" must be viewed from the eye of the beholder to define its elements. If I quote you a sum of money to build a bridge or building, your cost is my price. My cost is a sum of the prices I receive from suppliers, subcontractors, etc. Thus, one must carefully define the perspective of the number. Price = Cost + Profit.
elements of the construction costs are equal to CBS (cost breakdown structure) of construction project
AACEI has a virtual library of cost-related research papers. See the below link.
http://www.aacei.org/resources/vl/
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