What is a contract budget base log?
What is a contract budget base log?
The Contract Budget Base (CBB), is the sum of the Negotiated Contract Cost (NCC) and the Authorized Unpriced Work (AUW) budgets. Contract overruns or underruns are determined by comparing the final cost of the contract with the CBB, not the TAB. Simply stated the CBB is the contract target cost.
What can management reserve be used for?
The management reserve is defined as the cost or time reserve that is used to manage the unidentified risks or “unknown-unknown”. The management reserve is a part of the project budget but not the cost baseline. The management reserve is usually estimated based on the uncertainty of the project.
Is Mr included in PMB?
Management Reserve (MR) is an amount of the contract budget set aside by the project manager at the beginning of a project. By definition, Management Reserve does not have a specific scope of work and therefore it is not part of the PMB.
Who owns Community Bank of the Bay?
Bay Community Bancorp
Bay Community Bancorp(OTCPink: CBOBA) is the parent company of Community Bank of the Bay, a San Francisco Bay Area commercial bank with full-service offices in Oakland, Danville and San Mateo.
What is CBB project?
osd: Contract Budget Base (CBB) is a sum of the negotiated contract cost plus the estimated cost of authorized unpriced work. This represents the total amount of performance measurement budget that may be allocated to contract work. Related Definitions in the Project: The Project Baseline; The Project Cost.
What does tab mean on a budget?
Total Allocated Budget (TAB) The Total Allocated Budget (TAB) is the sum of all budgets allocated to a contract for authorized work but doesn’t include profit or fee. The TAB consists of the Performance Measurement Baseline (PMB) and all Management Reserve (MR).
What defines management reserve?
Definition. An amount of the total contract budget withheld for management control purposes by the contractor.
What is contingent reserve?
Definition of contingency reserve : an appropriation of surplus or retained earnings that may or may not be funded, indicating a reservation against a specific or general contingency.
What is undistributed budget?
Undistributed budget (UB) is the budget and its associated statement of work (SOW) for work not yet authorized to a control account manager (CAM) or managers. Set aside the SOW and budget for a portion of authorized unpriced work (AUW) to undertake newly authorized contract work quickly.
What is LRE in EVMS?
LATEST REVISED ESTIMATE (LRE) – The LRE is the most recent estimate of cost at completion for a project or CONTROL ACCOUNT approved by the project manager.
What is a small community bank?
A community bank is a locally owned and operated financial institution. They address the needs of a community by offering loans to small-business owners or personal loans to individuals.
What is a contract budget?
Contract budgeting attempts to reconfigure public budgeting as a system of pur- chase contracts between provider agencies and central government. It draws its inspiration from a simple model of contract in which the purchaser buys clearly specified outputs from a provider at a pre-agreed price.
