Cost Model. The VE Cost Model is a study tool presenting both estimated and target construction costs distributed by subsystem or functional area. Target costs shall be determined during the VE workshop and shall represent the VE team’s estimate of the least cost to perform the function of each subsystem or functional area. Large differences between estimated costs and target costs shall be identified as areas with potential for cost savings or value improvement.
Appears in 2 contracts
Sources: Construction Agreement, Construction Agreement