Scribd Logo
Upload

Welcome to Scribd!

  • 11 views

    Question and Answer: Comments

    Uploaded by

    mohi87
    Cost reports provide key financial information about a project's current status to clients and support decision making when changes occur post-contract. They are used to advise clients on whether project costs have overrun the budget, manage costs within the allocated budget during post-contract work, and provide decision support for any variations that arise. Cost reports should include the contract sum, approved and pending variations, potential variations, claims, and adjustments to risk allowances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Question and Answer: Comments

    Uploaded by

    mohi87
    11 views1 page
    Cost reports provide key financial information about a project's current status to clients and support decision making when changes occur post-contract. They are used to advise clients on whether project costs have overrun the budget, manage costs within the allocated budget during post-contract work, and provide decision support for any variations that arise. Cost reports should include the contract sum, approved and pending variations, potential variations, claims, and adjustments to risk allowances.

    Original Description:

    Q&A Des 45

    Original Title

    Q&A Des 45

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Cost reports provide key financial information about a project's current status to clients and support decision making when changes occur post-contract. They are used to advise clients on whether project costs have overrun the budget, manage costs within the allocated budget during post-contract work, and provide decision support for any variations that arise. Cost reports should include the contract sum, approved and pending variations, potential variations, claims, and adjustments to risk allowances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    11 views1 page

    Question and Answer: Comments

    Uploaded by

    mohi87
    Cost reports provide key financial information about a project's current status to clients and support decision making when changes occur post-contract. They are used to advise clients on whether project costs have overrun the budget, manage costs within the allocated budget during post-contract work, and provide decision support for any variations that arise. Cost reports should include the contract sum, approved and pending variations, potential variations, claims, and adjustments to risk allowances.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 1

    Question and Answer Comments

    1. What a cost report?


    Cost reports provide key information about the current
    financial status of the project to the client and giving
    decision support when any change occur during post
    contract from a cost and revenue perspective.

    2. What is a cost report used for?


    The main purpose of preparing the cost reporting is

    To advise the financial status of the project whether


    project cost is overrun or not to the construction client.
    To manage the project cost within allocated budget
    during post contract.
    To provide decision support to the client when occur
    any variation during post contract.
    To balance the building expenditure between the
    building element.

    3. What should be included within a cost report?


    Contract sum
    Approved Variation
    Pending Variation
    Potential Variation
    Claims for loss and/or expense; and
    Adjustment of risk allowances.

    You might also like