Forecasts of Defined Cost
The Contractor prepares forecasts of the total Defined Cost for the whole of the works in consultation with the Project Manager and submits them to the Project Manager. Forecasts are prepared at the intervals stated in the Contract Data from the starting date until Completion of the whole of the works.
Under Options C, D, and E, the Contractor provides regular cost forecasts with explanations of changes since the previous forecast. These help the Client anticipate final costs.
Inaccurate or late forecasts undermine the Client's financial planning. The Contractor should ensure forecasts are realistic and supported by current project data.
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