Interim Valuation

Assessment of Material on site and off site are under this process: _______

• Valuing specific heads of cost

• Preparing for First Valuation

• Post Valuation Activities

• Document Management

The __________ prepares an interim valuation document that values the construction works completed up to a specified point in time.

• Contract Administrator

• Project Manager

• Cost Manager

• Client

____________ is a pre-cursor to the issue of an interim certificate, which in turn allows an interim payment to be made.

Most valuations typically use an agreed tender pricing document as the basis of quantities and rates.

• True

• False

In construction, the ____ ___ _______ is used to describe additional costs that a Contractor incurs following the breaches of the contract by the Employer.

The value of any works that are substandard, defective, or not compliant with the intended specification can be partially included in interim valuations.

• True

• False

Select parts of the interim valuation process.

• Desktop check for completeness

• Site visit

• PCRA Process and internal review

• Issue Interim Valuation Documentation

A _______ certificate or agreement for construction goods, plant or materials, in letter form, used to confirm that ownership of the goods, plant or materials will transfer from one party to another on payment.

• Payment

• Vesting

• Valuation

• Contract