Z94.4 - Cost Engineering & Project Management

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HAMMOCK. An aggregate or summary activity spanning the nodes of two or more activities and reported at a summary management level.

HANGER. A beginning or ending node not intended in the network (a break in a network path).

HAUL DISTANCE. The distance measured along the center line or most direct practical route between the center of mass of excavation and the center of mass finally placed. It is the average distance material is moved by a vehicle.

HEDGE. In master production scheduling, a quantity of stock used to protect against uncertainty in demand. The hedge is similar to safety stock, except that a hedge has the dimension of timing as well as amount.

HIGHEST AND BEST USE. The valuation concept that requires consideration of all appropriate purposes or uses of the subject property in order to determine the most profitable likely utilization.

HOLDING TIME. Time that an item is not operational so that it may be serviced.

HOME OFFICE COST. Those necessary costs involved in the conduct of everyday business, which can be directly assigned to specific projects, processes, or end products, such as engineering, procurement, expediting, legal fees, auditor fees inspection, estimating, cost control, taxes, travel, reproduction, communications, etc.

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