02 Finances Flashcards
1
Q
How do you manage the costs on projects?
A
- Maintain a spreadsheet cost tracker per project
- Start with the contract sum
- Omit any provisional sums or contingencies
- As the project progresses, keep a record of all variation costs (additions and omissions)
- Add actual costs for provisional sum items once known
- Ensure interim valuations reflect costs maintained on the tracker
2
Q
What causes for concern would you have of the contractor’s financial situation during a contract?
A
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3
Q
A sub-contractor tells you he hasn’t been paid - what would you do?
A
???