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Provisional sum

Provisional sum/Day works/legislative adjustments in construction as per FIDIC 99

Provisional sums in construction under FIDIC 1999 Provisional sums in construction are the best guest values provided by the consultants at the tender stage, For works cannot be determined at the earlier stage (As an example, excavating of uncertain soil conditions). So consultants are stating provisional sum amounts for these kinds of works (works which …

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What is Letter of intent

Cost reimbursement contract/Cost plus Contracts

Cost reimbursement contract is also known as the Cost-plus contracts. Unlike the fixed price contracts, quantities are not prefixed in the cost-reimbursable contracts. The contractor is valuing the project based on the Drawings & specs given by the consultants or client. The final value of the project will be agreed upon based on these documents. …

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variations in construction

Variations in construction -under FIDIC 1999

Variations in Construction Variations are also called as change orders in construction. Any modification or change to works (agreed in the contract) is treated as a variation. These modifications or changes can divide into three main categories. Addition to the work agreed in the contract. Omission to work agreed in the contract. Substitution or alteration …

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Life cycle cost

What is Life cycle costing

Life cycle costing-Explain with a simple example Whole life cycle costing (in construction) is the process of evaluating and estimating the total costs involved for building a project from the design stage to disposable stage. The building life cycle can divide into four key steps.  Planing & Design stage Construction stage Operation stage (maintenance & …

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Construction cost calculation- Calculate unit price for Rate brake ups 2

Construction cost calculation- Calculate unit price for Rate brake ups

Cost Estimation Construction cost calculation is not an easy task? Earlier estimators who worked in the industry estimated construction costs based on one assumptions. In those times subcontractng works are minimal. estimators estimates works only the company can carry out and complete a project with available resources( Labour, Material & plant). So at that time(earlier …

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