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Home| Questions|Q 75281
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Expert Civil Latest Questions

Mahima Singh
Mahima Singh
Asked: August 23, 20222022-08-23T00:10:53+05:30 2022-08-23T00:10:53+05:30In: Construction Management

Explain the various costs of a project. Draw the graph between these costs and time. How optimum cost is calculated?

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    1. Gursimran Kaur
      Gursimran Kaur
      2022-08-23T22:14:54+05:30Added an answer on August 23, 2022 at 10:14 pm

      Various costs of a project are as follows: Direct cost: It refers to the prices which are straight involved and are important in order to complete the given project. These includes: Engineering tasks Project management skills Transportation Materials Professionals working on the project Equipment InRead more

      Various costs of a project are as follows:

      Direct cost: It refers to the prices which are straight involved and are important in order to complete the given project.

      These includes:

      • Engineering tasks
      • Project management skills
      • Transportation
      • Materials
      • Professionals working on the project
      • Equipment

      Indirect cost: It refers to the prices which are not straight involved in the completion of the project but are significant for the individual or the company working for the given project.

      These includes:

      • Target annual salary
      • Operating overhead expenses.

      Graph between costs and time

      Graph between costs and time

      How optimum cost is calculated?

      Optimum cost is calculated as “multiplying the quantity by the unit price”.

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