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Construction Glossary

Your go-to guide for decoding the language of construction and ERP. Whether you're managing projects or exploring new tech, this glossary makes complex terms easy to understand.

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Construction Management
Construction Management is the process of planning, coordinating, and overseeing a project from start to finish.
Construction in Progress (CIP) Accounting
Construction In Progress (CIP) is an accounting term used to represent the costs associated with building or developing a long-term asset that is not yet ready for use.
Cost Value Reconciliation (CVR)
Cost Value Reconciliation (CVR) is the tool that gives you a real-time look at whether your project is on track financially, so you can catch problems early and avoid losing profit.
Critical Path Method (CPM)
Critical Path Method (CPM) is a project management technique that helps you figure out the most important tasks to finish on time for the whole project to stay on track.
Customer Relationship Management (CRM)
Customer Relationship Management (CRM) is a system that helps businesses manage and analyze all their interactions with customers.
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ERP Implementation
ERP implementation is the process of selecting, setting up, and rolling out an ERP system across your business.
ERP System
Enterprise Resource Planning (ERP) software is a comprehensive system utilized by organizations to oversee various aspects of their operations.
Earned Value Analysis (EVA)
Earned value analysis (EVA) is a project management technique that combines schedule, cost, and scope measurements to evaluate project performance and progress.
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Overtime (UAE)
Overtime (OAE) refers to the extra time an employee works beyond their typically scheduled work hours, regulated by the UAE Labor Law to ensure fair compensation and legal compliance.
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Procurement Process
Procurement is a strategic approach to purchasing goods and services that enables cost savings, time efficiency, and mutually beneficial relationships with suppliers.
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Request for Information (RFI)
RFI (Request for Information) is a formal written document used to obtain essential project information, clarify ambiguities, or resolve discrepancies in construction documents.
Request for Proposal (RFP)
Request for Proposal (RFP) is a formal document that organizations use when they need to find a contractor or supplier to perform specific work or provide services.
Request for Quotation (RFQ)
Request for Quotation (RFQ) is a document that project owners or contractors send to suppliers, subcontractors, or service providers to get price estimates for specific materials, equipment, or labor.
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Types of ERP Systems
Types of ERP Systems consist of three main ones: cloud-based, on-premise, and hybrid, along with other types such as custom vs. ready-made, generic vs. industry-specific, and open-source vs. proprietary.
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Value Engineering
Value Engineering is a systematic process aimed at improving the value of a project.
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Warehouse Management System (WMS)
Warehouse management system (WMS) is software that supports and optimizes warehouse functionality and distribution center management.

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