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WAG is lang for “Wild Assed Guess”. Also sometimes further qualified as a SWAG which is slang for “Scientific…” or “Sofisticated Wild Assed Guess”

Value Engineering

Value Engineering is an organized effort to analyze the functions of systems, equipment, facilities, services, and supplies for the purpose of achieving the essential functions at the lowest life cycle cost consistent with required performance, reliability, quality,...

Unit Cost

Total labor, material, and overhead cost for one unit of production, i.e., one part, one gallon, one pound, etc. (Wideman Comparative Glossary of Common Project Management Terms v2.1)


UniFormat is an arrangement of construction information based on physical parts of a facility called systems and assemblies. These systems and assemblies are characterized by their function without identifying the products that compose them. Systems and assemblies...