Level 1 - Cost Reporting GN Flashcards
1
Q
How do different procurement routes affect a cash report structure?
A
Lump sum contracts track lump sum and adjustments
Construction Management will track CM fee and separate contract sums and adjustments for all trade packages
2
Q
What is the structure of a cost report?
A
D&B Lump sum
Contract Sum Adjustments for provisional sums Adjustments of variations Adjusments for Loss & Expense Adjusment for risk allowances
3
Q
How often should a cost report be updated?
A
Monthly (as per valuations) unless another frequency is required by the client
