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Large projects, activities, and organizations are often divided into smaller parts to facilitate their management. The following diagram shows how a job can be broken into cost elements and cost code segments (phases, steps, details, and components).
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Cost Element Names
Cost elements are categories of costs on a typical job and are used to group similar costs or cost codes. Labor, Material, Equipment, Subcontractor, and Other serve as default cost elements. Four user-defined cost elements are also available.
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