Prepare and agree interim valuations, entitlements, and final accounts
Overview
This standard is about valuing work in progress, assessing and processing valid entitlements, preparing and submitting final accounts in accordance with current organisational or specific contract requirements which are equal to or exceed current statutory and legislative requirements
This standard is for people working in the occupational area of construction contracting operations management and can be used by operatives, supervisors and managers
Performance criteria
You must be able to:
Prepare and agree interim valuations and final accounts P1 value work in progress, and agree the calculations with nominated representatives P2 value variations and items which do not have an agreed contract rate including agreeing justifiable non-standard rates P3 estimate the cost of re-work and any additional work P4 identify the liability for the cost of re-work and any additional work P5 agree the liability with the parties involved in the contract in a way that promotes goodwill and trust P6 record the agreements and estimates in accordance with organisational and contractual requirements P7 prepare and submit final valuations and accounts P8 record and store documents, back-up information and calculations securely Process entitlements for reimbursement for loss and expense P9 assess the basis of entitlements and criteria for recovery against the contract
P10 calculate entitlements from relevant and verifiable information sources
P11 analyse the opposing grounds for the claimed entitlements, structure the entitlements clearly and present them
P12 negotiate and agree amendments to the claimed entitlements with the parties involved in the contract in a manner which promotes goodwill and trust P13 process agreed final entitlements P14 record and store documents, back-up information and calculations securely
Knowledge and Understanding
You need to know and understand:
Prepare and agree interim valuations and final accounts Performance Criteria 1 K1 how and why to value work in progress
K2 how and why to agree the calculations with nominated representatives
K3 how and why to price and reference the quantities used in valuations and accounts so that they meet contract provisions
Performance Criteria 2
K4 how and why to value variations and items which do not have an agreed contract rate including agreeing justifiable non-standard rates
Performance Criteria 3
K5 how and why to estimate the cost of re-work and any additional work
Performance Criteria 4
K6 how and why to identify the liability for the cost of re-work and any additional work
Performance Criteria 5
K7 how and why to agree the liability with the parties involved in the contract in a way that promotes goodwill and trust
Performance Criteria 6 K8 how and why to record the agreements and estimates in accordance with organisational and contractual requirements
Performance Criteria 7 K9 how and why to prepare and submit valuations and accounts which contain relevant background information to clarify and justify areas of potential disagreement Performance Criteria 8 K10 how and why to record and store documents, back-up information and calculations securely Process entitlements for reimbursement for loss and expense Performance Criteria 9 K11 how and why to assess the basis of entitlement and criteria for recovery against the contract Performance Criteria 10 K12 how and why to calculate entitlement from relevant and verifiable information sources Performance Criteria 11 K13 how and why to analyse the opposing grounds for the entitlement
K14 how to structure the entitlements clearly and present them Performance Criteria 12 K15 how and why to review the terms of the contract periodically and assess whether there are continued mutual benefits to the supply of resources Performance Criteria 13 K16 how and why to monitor the performance of the supply chain against the requirements of the contract Performance Criteria 14 K17 how and why to record and store documents, back-up information and calculations securely