Project Finance

Question 1

What is a baseline, and what is included?

Answer 1

Fixed point of reference against which performance is measured. Includes cost, schedule, scope.

Question 2

Per RICS practice info on Cost Reporting, what should be in a cost report?

Answer 2

Contract sum/target cost.
Adjustment of reimbursable costs to be incurred.
Forecast of reimbursable costs to be incurred.
Adjustment of risk allowances.

Question 3

What should be included in a cost report for a lump sum contract?

Answer 3

Contract sum.
Adjustment of variable costs.
Adjustment of variations.
Adjustment of fluctuations.
Claims for loss and/or expense.
Adjustment of risk.