TOPIC 3 Post Contract Cost Control (15 marks) ATTEMPT ALL QUESTIONS Project Scenario Information: For Topic 3 (the project outlined for topic 1 and 2 ) The client has now signed a contract with your contracting organisation for the glamping holiday accommodation on the west coast of the Far Northland New Zealand. The project will commence on site in the next few weeks. Cost control during the construction phase of a project is critical to the project's financial success. Provide advice to your new graduate employees concerning post contract cost reporting processes. Task 1: Post Contract- Clients' Perspective (15 marks, 500 words total) Compare and contrast two key post contract control methods. a. The purpose and process of a typical monthly financial statement/ cost report prepared by the Quantity Surveyor employed by the client during the construction phase of the building project. b The pupose and process of the 'Cost Value Reconciliation' undertaken by the Constractor's Quantity Surveyor during the construction phase of the building project