A written agreement or directive between contracted parties which represents an addition, deletion, or revision to the contract documents, identifies the change in price and time and describes the nature (scope) of the work involved. Also known as Contract Modifications.
Conditions or circumstances, physical or otherwise, which alter the conditions or circumstances on which the contract documents were based.
A formal demand for compensation, filed by a contractor or the owner with the other party, in accordance with provisions of the contract documents.
Start up, calibration, and certification of a facility.
An amount of money reserved by the owner to pay for unforeseen changes in the work or increases in cost.
The ease with which a project can be built, based upon the clarity, consistency, and completeness of the contract documents for bidding, administration, and interpretation to achieve overall project objectives.
The process of evaluating the construction documents for clarity, consistency, completeness, and ease of construction to achieve overall project objectives.
The sum established, normally during the planning or design phase, as available for construction of the project.
All costs attributed to the construction of the project, including the cost of contracts with the contractor(s), construction support items, general condition items, all purchased labor, material and fixed equipment.
A professional management practice consisting of an array of services applied to construction projects and programs through the planning, design, construction and post construction phases for the purpose of achieving project objectives including the management of quality, cost, time and scope.