Contract Sum Agreement

For this study, ordinal scales were used to categorize the significant factors attributed to the differences between the amount of orders and the final bill of capital projects on a scale of 1 to 5. The Social Sciences Statistical Package (SPSS.16) was used to analyze the factors that cause differences between the contract amount and the final tally. The determination of the meaning index was taken up by Lim and Alum [19] and is indicated by the following formula: on the basis of the main indices, the variables were assessed and the agreement between the farms was determined by the use of Kendall`s match analysis and the square chi values. The results presented in Table 3 show that the three groups of respondents (contractors, consultants and clients) agree that the five most important factors influencing cost difference or private equity projects in Ghana are “price fluctuations,” “late material deliveries,” “changes in work volume,” changes in market demand, and “design changes.” The sample size for contractors and consultants is as follows: (contractors and consultants working on donor-funded investment projects).‚ÄČ. Fluctuations in market demand for building materials also result in differences between the amount of orders and the final count of a project. Several factors such as the availability of a large number of new and modern materials (technological advances), the actions taken by competitors, the solvency of suppliers and customers, and general economic conditions may influence the choice of materials and equipment of a contractor for a given project, which may be totally different from what could have been used in another project. The overall effect will be a positive or negative difference when comparing the amount of the contract with the final bill figures. The estimation phase of an investment project during the pre-contracting phase includes the development of a permanent project estimate and estimate as part of a contractor`s proposal to a client. This is the phase in which assumptions of resource commitments are made for the activities necessary to carry out the project. A careful and thorough analysis of the different conditions imposed by the design of the project and the characteristics of the site is considered the best estimate. The success of a contractor depends on this estimate, not only to get a job, but also to build the building with the highest possible profit to keep the business in operation. The evaluator should look for this time-cost combination that allows the contractor to successfully complete the commitment. This also applies to the fact that objects that are lacking in the design at the contract stage must evolve and be constructed in a more complex or expensive manner than what the contractor has authorized in the event of a risk or eventuality.

Written by darrenjac

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