Search results for "Procurement"

TermDefinition
Procurement LogA procurement log tracks required materials, equipment, subcontracts, buyout status, lead times, and delivery dates.
Procurement ScheduleA procurement schedule tracks purchasing, submittal, fabrication, and delivery timing for required materials and equipment.
A151A151 is an AIA agreement form for owner-vendor relationships involving goods, equipment, or materials.
AddendumAn addendum is a formal document issued during bidding to modify or clarify procurement documents.
Additive AlternateAn additive alternate is optional work that can be added to the base bid if accepted by the owner.
AlternateAn alternate is a separately priced option that may be accepted or rejected by the owner.
ApproverAn approver is a person responsible for reviewing and approving, rejecting, or commenting on an item.
Architect's ServicesArchitect's services are the professional services the architect agrees to provide for a project.
Bid BondA bid bond is a surety bond that helps protect the owner if the selected bidder does not honor its bid.
Bid DocumentsBid documents are the drawings, specifications, forms, instructions, and contract requirements issued for pricing.
Bid PackageA bid package is a grouped set of scope, drawings, specifications, and instructions issued for pricing.
Biddability ReviewA biddability review checks whether bid documents are clear, complete, and organized enough for reliable pricing.
BPMA BPM is a company that makes products, materials, equipment, or systems used in buildings.
BuyoutBuyout is the process of awarding subcontracts and purchase orders after pricing has been received and reviewed.
CMCM can refer to construction management as a service or to the construction manager responsible for managing project delivery.
CMARCMAR is a delivery method where a construction manager provides preconstruction services and then takes responsibility for delivering the project within an agreed price.
Construction Manager as AdviserConstruction manager as adviser is a delivery structure where the construction manager advises the owner but does not hold the prime construction contract.
Deductive AlternateA deductive alternate is optional work that can be removed from the base bid if accepted by the owner.
Division 00Division 00 contains procurement and contracting requirements in the project manual.
ERPERP is business software used to manage finance, procurement, projects, inventory, people, and operations across an organization.
Fast TrackFast track is a project approach where construction starts before all design or procurement packages are complete.
G705G705 is an AIA form used to identify subcontractors and portions of work.
Invitation to BidAn invitation to bid is a procurement notice inviting contractors or subcontractors to submit bids.
ITBAn ITB is a formal invitation for contractors or suppliers to submit competitive bids.
Long-Lead ItemA long-lead item is a material or piece of equipment that requires a long time to purchase, fabricate, or deliver.
Low BidderThe low bidder is the bidder that submits the lowest responsive price for the defined scope.
Master ScheduleA master schedule is the high-level schedule showing major phases, milestones, and overall project timing.
MFMF is shorthand for MasterFormat, CSI's classification system for organizing construction specifications and work results.
Milestone ScheduleA milestone schedule tracks major project dates and key completion points.
Notice of AwardA notice of award tells the selected bidder that the owner intends to award the contract.
Owner's RepresentativeAn owner's representative is a person or firm that helps the owner manage project decisions, communication, risk, and performance.
Phased ConstructionPhased construction breaks a project into separate stages or work packages.
PIMPIM is the management of structured product data used across catalogs, specifications, procurement, and digital workflows.
PMPM is the management of project scope, cost, schedule, communication, risk, procurement, and delivery.
PPDPPD are early project documents used to communicate initial scope, requirements, concepts, assumptions, or criteria.
Pre-Bid MeetingA pre-bid meeting is a meeting held before bids are due to explain project requirements and answer bidder questions.
PreconstructionPreconstruction is the planning phase before construction begins, when teams refine scope, budget, schedule, logistics, and procurement strategy.
Program ManagementProgram management coordinates multiple related projects or a larger capital program.
Project ManualA project manual is a bound or digital set of procurement requirements, contract requirements, and technical specifications.
Purchase OrderA purchase order is a contract document used to buy materials, equipment, or services.
Quantity TakeoffA quantity takeoff is the process of measuring quantities of work or materials from drawings, models, or field information.
Request for ProposalA request for proposal is a procurement document asking firms to submit qualifications, approach, and pricing for a defined need.
Request for QuoteA request for quote asks a vendor, supplier, or subcontractor to price a defined item or scope.
RFPAn RFP is a procurement document requesting proposals for a defined project, service, or scope of work.
RFQAn RFQ is a procurement document used to evaluate firms based on qualifications, experience, and capability.
WBSA WBS breaks a project into smaller work packages, deliverables, or cost and schedule components.
Work Breakdown StructureA work breakdown structure organizes project scope into smaller components for planning, tracking, and control.