How Variations Affect Costs and Scope
Variations often impact the project budget and timelines, leading to additional costs or time extensions. These changes must be documented to ensure transparency in financial planning and project delivery. Properly managed, variations help control unexpected costs and ensure the Client and contractor stay on the same page.Best Practices for Managing Variations
Contractors should promptly document and communicate any variations, updating the project budget and timeline accordingly. Using financial management software can help track the cost implications and ensure that every change is accounted for, preventing cost overruns.Related Terms: Lump Sum Contract, Client, Subcontract