Project finance SoE

Question 1

L1 - What if an element of scope was missing from the CSA but was in the contract documents?

Answer 1

Should be deemed included

it is still in the contract, should be clauses within the contract to use the most onerous element.

this is post contract. if D&B contract would say it is the contractors risk unless was in clarifications.

Question 2

L1 - How do you manage provisional sums under the contract?

Answer 2

Provisional sums are for items that cannot be fully defined at time of tender

I am aware of the risk that the actual cost and time exceeds that allowed for in the provisional sum because the nature of the item changes between tender and instruction

I would have a separate provisional sum tracker to monitor throughout the project

Then in the final account, the provisional sums included in the contract are deducted and the actual amount substituted