Database

Definition

A Database in construction is a collection of project costs that allow for comparisons and cost validations. These databases are project-specific and categorize various types of projects for accurate cost comparison.

Purpose

The purpose of a construction database is to provide a comprehensive and organized collection of cost data for various projects. This helps in estimating, budgeting, and validating costs for future projects by comparing them with historical data from similar projects. It enhances the accuracy and reliability of cost projections.

Examples of Use

1. Cost Estimation: Using a database to estimate the cost of a new commercial building by comparing it with similar past projects.
2. Budgeting: Creating a budget for a renovation project by referencing cost data from previous renovations stored in the database.
3. Project Comparison: Validating the cost of a proposed infrastructure project by comparing it with historical data from completed projects of the same type.

Related Terms

• Cost Estimation: The process of predicting the cost of a project based on available data and historical information.
• Budgeting: The process of planning and allocating financial resources for a project.
• Project Management: The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals.

Notes

• Databases must be regularly updated with new project data to remain relevant and accurate.
• Proper categorization of projects within the database is essential for meaningful comparisons.
• Security and data integrity are critical to ensure the reliability of the information stored in the database.