Skills and Knowledge of Cost Engineering: Pricing Costing

摘要

This chapter highlights the difference between pricing and costing. It is very important to distinguish between the terms "price" and "cost." There is a very fine difference between them, which is why people often tend to use them interchangeably. This chapter discusses the concepts of pricing and costing of a project, illustrates the differences and helps the reader to identify the inputs, transforming mechanisms and outputs related to the cost and pricing process.