Project Management Contract Modification

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Project Management Contract Modification Powered By Docstoc
					    Lecture 17 –
Contract Modifications
   CEE 474 – Engineering
    Project Management
        Contract Modifications
   Modifications, or change orders, are
    made to contracts to change the
    price, time, delivery, scope, or
    quality required of a contract.
        Modification Categories
   Design error
   Differing site condition
   Value engineering
   Criteria change (necessary for
    construction)
   User/owner request
   Novation (name change)
   Default (adverse weather, strikes, acts of
    God, embargoes, etc.)
   Termination for convenience (Government
    only, otherwise it would be breach of
    contract)
            Price and Time
   The rule is to “leave them as you
    found them.” The contract
    modification should provide an
    equitable adjustment to contract
    price and time such that the
    adjustment for price & time reflects
    the actual change in price for the
    contractor to perform the changed
    work and the time is adjusted to
    reflected the difference in time it
    takes to perform the changed work.

				
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