Compare construction and the cost cycle phases.

1.     Look ahead to Chapter 3’s discussion of construction phases and Chapter 8’s discussion of the cost cycle and compare those phases or steps with those of the accounting cycle in this chapter. There should be many overlaps.

2.     What is the difference between cost ‘control’ and cost ‘management’? You may have to look forward for this one as well.

3.     Other than the reasons given earlier, why might a contractor choose to bid a project?

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