Question: You are preparing a Cost Plan No.1 for a new project which is planned to be started in early 2021 and completed by end 2023.

You are preparing a Cost Plan No.1 for a new project which is planned to be started in early 2021 and completed by end 2023. Describe how the historical cost can be adjusted to today's cost and also updated to the date of tendering in end 2020. (12 marks)

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