- Lump sum contract - Wikipedia
- Development Cooperation Handbook/Designing and Executing Projects/Project Execution and Control/Control and Manage Costs - Wikibooks, open books for an open world
- Sub Contract: Lump Sum & Re-measure | dedicated to Project Controls
- Contract sum analysis and opinion
Product Offering
Sales Analysis
Gross Sales
This report, as shown in Figure 13-37 provides month-level sales summary information, for one or more locations. Net Sales
This report, as shown in Figure 13-38 provides month-level net sales summary, for one or more locations. The exact definitions of net sales can be refined by the service operator, while the default definition is the sales amount deducted by the cost of handset, human resources, and so on. Debt Collection
Debt Aging
This report, as shown in Figure 13-39 generates debt aging details for the customers currently in debt. Debt Aging Band
Collection Agency
Recovered Revenue Value
This report, as shown in Figure 13-40 analyzes percentage of the recovered revenue value. After a certain period, if customer still cannot pay the bill, the collection begins. This report can analyze, for all collection amounts, how much is recovered and how much is abandoned. External Debt Collection
This report, as shown in Figure 13-41 shows collection agency wise debt collected amount waiving amount.
Lump sum contract - Wikipedia
Adjustment to Customer
This report, as shown in Figure 13-42 describes the adjustment value and count for each product. Refund and Adjustment
Refund to Customer
This report, as shown in Figure 13-43 provides summary information about all the refunds made to the customer. for one or more locations. Invoice Adjustment
This report, as shown in Figure 13-44 describes adjustment value and count for each product. Customer Agreements
Customer Sum of Future Plans
This report, as shown in Figure 13-45 analyzes year and month level contract sum of future plans for the customer type based on LM, % Change LM. The future plan are those contracts customer already signed but not started yet. For example, if today is Feb 20th 2011, and customer may sign a contract starting at Apr 1st 2011 for one year. This is called a Future plan. Customer
Monthly Future Plan Drop-Out
This report, as shown in Figure 13-46 describes product offering wise dropped contract amount and contract loss amount. Monthly Contract Sum Loss
This report, as shown in Figure 13-47 shows month level replaced contract analysis and terminated contract analysis.
Development Cooperation Handbook/Designing and Executing Projects/Project Execution and Control/Control and Manage Costs - Wikibooks, open books for an open world
This type of contract usually is developed by estimating labor costs, material costs, and adding a specific amount that will cover the contractor's overhead and profit margin. The amount of overhead calculated under a lump-sum contract will vary from builder to builder, but it will be based on their risk assessment study and labor expertise. However, estimating a very large overhead cost can lead the contractor to present higher construction costs to the project owner. The expertise of the contractor will determine how their estimated profit will actually be. A poorly executed and long-delayed job will raise construction costs and eventually diminish the contractor's profit. When to Use This Type of Contract
A lump-sum contract is a great contract agreement to be used if the requested work is well-defined and construction drawings are completed. The lump-sum agreement will reduce owner risk, and the contractor has greater control over profit expectations. It is also a preferred choice when stable soil conditions, complete pre-construction studies, and assessments are completed and the contractor has analyzed those documents.
Sub Contract: Lump Sum & Re-measure | dedicated to Project Controls
And the contrast to these documents Contractor is evaluating and agreeing with the owner (or employer) to complete the works without exceeding the agreed lump sum amount. [7]
Advantages [ edit]
The owner's risk is reduced due to the price of the contract being fixed and variations are not as much like other contracts. [8] [9]
There are fewer change orders and they are reduced. [8] [9]
The bidding and contractor selection is less complicated. [8] [9]
Obtaining construction loans are easier with this type of contract. [9] [8]
The profit margins and percentages are greater for engineers and contractors. [8] [9]
Payments and installments are made on regular basis which provides the contractor with a reliable cash flow. [8] [9]
Management of the contract is a lot easier for the owner. [8] [9]
It create an improved communication and relationship between the design team, contractor, and the owner. [8] [9]
Disadvantages [ edit]
There is a higher risk for the contractor. [8] [9] [10]
Proper change order documentation is required which could be time-consuming.
The categories of lump-sum contract
Lump-sum contract types can have different variations and be built to meet the specific needs. It can be further divided into three categories [3]:
Firm Fixed-Price contract (FFP) which is the simplest type of procurement contract. In this type of contract the price is fixed. The contractor has to complete the job within an agreed amount of money and time. Any additional costs due to bad performance of the contractor have to be covered by contractor. A Firm Fixed-Price contract is mostly used in government or semi-government contracts where the scope of work is specified with every possible detail outlined. Most of the buyers prefer a firm fixed-price contracts because the price is known upfront. The price remains the same unless there is a change in scope of work. Fixed Price Incentive Fee contract (FPIF) - In this type of contract, although the price is fixed the contractor can earn an additional amount if defined performance criteria will be met. Fixed Price with Economic Price Adjustment contracts (FP-EPA) - if the performance period is multi-year long, a Fixed-Price with Economic Price Adjustment contract is used.
Contract sum analysis and opinion
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