Costing Flashcards
Defined provisional sum
A sum provided for work that is not completely designed but for which the following information is provided:
* the nature and construction of the work
* a statement of how and where the work is fixed to the building, and what other work should be fixed
* a quantity or quantities that indicate the scope and extent of the work, and
* any specific limitations, etc. identified.
Prescriptive information
Complete, instructive information used to manufacture and construct building systems and components, produced by the design team or the construction team.
Prime cost sum (PC sum)
Refers to a price that has been ascertained in advance of requesting tenders, from a specialist supplier or sub-contractor.
It is unlikely that PC sums will be applicable to a contract based on MW16, as the form does not make provision for the naming or nominating of such firms.
Provisional quantity
A quantity that cannot be accurately determined (i.e. an
estimate of the quantity).
Provisional sum
A sum of money set aside to carry out work that cannot be fully described and given in quantified items in accordance with the tabulated rules of measurement.
A provisional sum should be identified as either defined or undefined.
Undefined provisional sum
A sum provided for work that is not completely designed, but for which the information required for a defined provisional sum cannot be provided.
