Reference no: EM13343639

The purpose of this assessment task is to evaluate your ability to prepare interim payment claims and rise and fall calculations for the contractor and subcontractors in accordance with relevant codes of practice, standards and legislative requirements.

Instructions:

Given the assessment responses you have produced above along with the 5 pack estimate and rate break up summaries, produce the following in accordance with "The Old Building and Construction Industry Payments Act 2004" or similar Act in your State/territory:

1 a) indicate the time related processes required to produce a monthly progress claim

1 b) produce a typical monthly progress claim including the following:

(i) value of work done
(ii) value of work done on variations

2a) Research and record your findings (in less than 100 words) on how a rise and fall cost adjustment is made and under what circumstances. Give an example of a rise and fall calculation.

2b) describe how this would be financially reported in your company.