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Cost Glossary

Cost Glossary

Learn the language of Cost.

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Deferred Maintenance

Major repairs or replacement of buildings and equipment; preventative maintenance expenses delayed due to lack of funding.

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Milestone Schedule

A schedule representing important events along the path to project completion. All milestones may not be equally significant. The most significant are termed "major milestones" and usually represent the completion of a group of activities.

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Request for Change Proposal

A delineation and/or narrative issued by the CM to the contractor that describes a proposed change to the contract documents for purposes of establishing cost and time impacts. Also referred to as Bulletin, Request for Information (RFI), and Request for Quote (RFQ).