What would you felt a change order was incorrect
1) First, I would review the instruction against the contract to ensure that the variation was constituted
2) I’d then review the instruction to confirm that it was instructed by a relevant party within the contract.
3) I’d then assess the measurement and contractors valuation. I’d ensure that all rates are in line with tendered rates aswell as all supporting documents are attached to substantiate quantities. If the change affects time, I’d consider whether there is a general entitlement to loss and expense.
4) If I still didn’t agree with the variation, I would liase with the contractor, referencing contract.
5) Where agreement can’t be reached I’d ensure the matter is dealt with in accordance to the dispute resolution provisions within the contract.
What is cashflow
Cashflow is a time based projection of project expenditure and income across the duration of the project.
Typically following an S Curve….
What is a cost report
A cost report is a document that summarizes the actual and forecasted project costs against the budget and highlights any variances and financial risks
What is a CVR
CVR is the process of comparing the planned expenditure (cost) with the value of work completed (value) to monitor financial performance and project progress.
