Question: The Contractor submits its quotation for a compensation event which the Project Manager accepts. The quotation details a change to the Prices of 2 5
The Contractor submits its quotation for a compensation event which the Project Manager accepts. The quotation details a change to the Prices of Before the next assessment date, the Contractor's application for payment includes the Price for Work Done to Date for the item of work in the compensation event at The Project Manager certifies Completion of the whole of the works two months later.
Which TWO of the following statements are correct?
Select TWO options
Assessments for changed Prices for compensation events are in the form of changes to the Activity Schedule
The Price for Work Done to Date at the assessment date before Completion is the total of the Prices for the work the Contractor forecasts will have been completed before the next assessment date plus the Fee
The amount due assessed by the Project Manager at the assessment date before Completion should include as part of the Contractor's share
Assessment of the Defined Cost of the compensation event should have used the Short Schedule of Cost Components
The Price for Work Done to Date at the assessment date before Completion is the Defined Cost which the Project Manager forecasts will have been paid by the Contractor before the next assessment date plus the Fee
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
