Cost item
Any action or service incurring a cost over the course of a project.
A cost item is an individual element of expense within a budget, representing a specific cost associated with a project. It provides detailed insights into where money is being spent and aids in accurate financial tracking and management.
Used in a sentence
Each cost item must be justified and documented in the project budget.
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Cost item
Construction Tax Deductions: A Quick Guide
Tax deductions offer a lot of opportunity for construction businesses to lower their tax liability, helping to free up cash flow and increase profitability. Because construction projects are so complex, tax deductions in the construction industry are nuanced, but there are many opportunities to use tax deductions for more effective financial management. This article discusses […]
How Contractors Can Use Measured Mile Analysis to Prove Claims
A measured mile is a method construction contractors can use to demonstrate lost productivity during a project in hopes of getting some of the additional costs back from project owners. Construction projects always aim to stick to their originally established budget and timelines. Unfortunately, in most cases, issues arise that get in the way of […]
Understanding Supplementary Conditions on Construction Contracts
No two construction projects are exactly alike — and the same goes for construction contracts. Even when using a standard contract form, owners and contractors sometimes use supplementary conditions to shape the contract documents to fit the project at hand better. Supplementary conditions may add additional information that isn’t included in standard contract terms, alter […]
Cost-Loaded Construction Schedule: Analysis, Risks & Benefits
Both scheduling and cost control are make-or-break aspects of construction projects, but in many cases the two areas are kept very separate from one another — the project scheduler and financial controller may never be in the same room to hash out a plan. Cost and schedule are both keys to project success, and each […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.