Quantification and costing

Question 1

You recieve a Variation or Compensation Event in the contract. How do you go about assessing that?

Answer 1

1. Ascertain whether or not it is a change
2. Identify if there is any works of a similar nature in the CSA or Pricing Document
3. Compare the contracted drawing against the change drawing and measure the difference
4. Quantify the change
5. Assess whether or not the rates are fair and reasonable

Question 2

In an NEC contract how would you go about assessing and Compensation Event?

Answer 2

Option A and C can be assessed against first principles
Option B and D can be assessed against if there is the same activity in the BoQ