ABSTRACT
After reading this chapter, you should have an understanding about the principles and practice of post-contract cost control as used in the construction industry. You should be able to:
21.1 INTRODUCTION
The financial control of any construction project commences at inception and continues until the issue of the final certifi ate. The time from the signing of the contract until the final certificate is termed the post-contract phase. The method used for controlling costs will depend on:
■■ The method used for contractor selection; ■■ The method used for price determination for both the tender sum and the final account; ■■ Whether the control is being exercised for the contractor or the client; ■■ The role of the quantity surveyor in respect of budgeting and accounting.
