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Industry Acronyms

Concepts & Vocabulary

Students are encouraged to familiarize themselves with the following concepts and vocabulary (note that this is NOT an exclusive list of what you will need to cover during the project):

  • Request for Information (RFI)
  • Addendum
  • Critical Path Method (CPM)
  • Work Breakdown Structure (WBS)
  • Project Milestones
  • Notice to Proceed (NTP)
  • Job Duration
  • Best Value
  • Value Engineering
  • Project vs. Construction Management
  • Construction Project Phases
  • Project Management Triangle
  • Risk Management
  • Project Delivery Methods (DB, DBB, CMGC)
  • Scope of Work
  • Overhead
  • Allowances
  • Disadvantaged Business Enterprise Program (DBE)
  • Joint Venture (JV), General Contractor, Subcontractor, Owner’s Representative
  • Resource Loading
  • Resource Planning
  • Deliverables
  • General Engineering Consultant (GEC)
  • Work at Risk Fee types: Lump Sum, Cost Plus (fixed fee), Cost Plus (to a maximum), Cost Plus (Rates to a maximum)
  • Multiplier
  • Estimate to Complete
  • Revenue

For more comprehensive industry terminology, visit Fieldwire.


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