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Given the nature of the construction process some change is almost inevitable. Standard forms of contract, therefore, cater for such change by including provisions which permit variations and alterations to the works. Variations may range from small inconsequential changes to major revisions which can delay and disrupt the completion to the project and place the project budget under considerable stress.
Establishing a realistic valuation for variations is not always a straightforward task. Even apparently simple changes can have significant unexpected consequences on project outcomes. This study examines how the valuation of variations may be carried out in accordance with the provisions of the Irish RIAI and PW-CF1 forms of contract. The variation rules are summarised and are applied to a number scenarios which have been examined at undergraduate level and in professional examinations.
The study is intended as a resource for (Irish) students undertaking undergraduate and conversion masters courses in quantity surveying and construction management related disciplines.
Cunningham, T. (2017)Valuing Variations in Accordance with the Principle Irish Standard Forms of Building Contract – Worked Examples and Solutions,