Below you will find a short list of the most common words you will here in the office.
Addendum
An addendum is an item of additional material added at the end of a book or document, typically in order to correct, clarify, or supplement something. Addendums are released during the bidding process and means there has been a change to the plans, specs, or scope of work.
Bid List
A bid list is a list of potential jobs that a company may want to bid. The bid list can also be used to track how many jobs a company is bidding a year and how much money is being bid as well as how much they are awarded. Each company will have a bid list that is designed for their companys needs.
Change Order
A change order is a document used to alter the original agreement on a construction project. Change orders are used once a job has been awarded and there has been a change in a company scope of work or change in cost.
General Contractor/Prime Contractor
A General Contractor (as referred to as GC) or Prime Contractor is the person or company responsible for overseeing a construction project. General Contractors are in charge of the jobsite and are in charge of the subcontractors on a project. However General Contractors report to the Architect and Owner of the project.
Invoices
Invoices are documents that maintains a record of a transaction between a buyer and seller. Projects will have many invoices and requires a team of people to bill and keep track of invoices.
Mark Up
A mark up is the difference between the cost of materials or services and the sales price charged for them. You will hear this mostly if you are working with the estimating team or accounting team.
Plans
Plans or blueprints are drawn out images/documents that lay out how a project is to be completed. Plans can be as small as 10 pages to as great as 500 depending on the project.
Prequalification
This refers to the information gathering and assessment process used to determine whether a contractor’s capabilities, capacities, resources, management processes, and performance are suitable for a project. Some prequalifications are as simple as a businesses basic contact information and license to as complex as financial statements, project references, and insurance ratings. Most projects that are done for government or education systems will have prequalifications.
Proposal
Proposals are plans or suggestions from a contractor, especially a formal or written one, put forward for consideration or discussion by the Owners of a project.
Specifications
Specifications also called “Specs” written documentation describing the scope of work, any materials that are to be used, the methods of installation, and the quality of workmanship under contract. Specs are know to be hundreds of pages long so it is important to be familiar with navigating the specs.
Subcontractor
Subcontractors or “Subs” are businesses or persons that carries out work for a company as part of a larger project. Subcontractors work under General Contractors.
Takeoffs
A takeoff is the materials or quantities required for the project to calculate the cost to complete it. Takeoffs are then used to put monetary counts to the quantity counts.