Z94.4 - Cost Engineering & Project Management
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UNCERTAINTY. Unknown future events which cannot be predicted quantitatively within useful limits, eg, accidents which destroy invested facilities, a major strike, a competitor’s innovation which makes the new product obsolete.
UNDERGROUND FACILITIES. All pipelines, conduits, ducts, cables, wires, utility access ways, vaults, tanks, tunnels or other such facilities or attachments, and any encasements containing such facilities which have been installed under-ground to furnish any of the following services or materials: electricity, gases, steam, liquid petroleum products, telephone or other communications, cable television, sewage and drainage removal, traffic or other control systems or water.
UNIT COST. Dollar per unit of production. It is usually total cost divided by units of production, but a major cost divided by units of production is frequently referred to as a unit cost; for example, the total unit cost is frequently subdivided into the unit costs for labor, chemicals, etc.
UNJUST ENRICHMENT DOCTRINE. The belief in law that one person should not be allowed to profit or enrich himself or herself unfairly at the expense of another person.
UNUSUALLY SEVERE WEATHER. Adverse weather which, at the time of year in which it occurred, is unusual for the place of contract performance. No matter how severe or destructive, if the weather is not unusual for the particular time and place, the contractor is not entitled to relief. Unusual or normal weather does not mean ideal weather or the best weather that can be expected; rather it means the normal weather pattern, both good and bad, that could be reasonably anticipated in a particular area. The normal weather pattern is generally that based on the record of the prior ten years unless the contract documents provide for a different period.
UPDATING. The regular review, analysis, evaluation, and reporting of progress of the project, including re-computation of an estimate or schedule. (See STATUSING.)
UNION. A group of workers who organize together for the purpose of negotiating wage rates, working conditions and fringe benefits.
USEFUL LIFE. The period of time over which an investment is considered to meet its original objective.
USE VALUE. (See FUNCTIONAL WORTH.)
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