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NSW · 3 points

Prime Cost Items, Provisional Sums and Cost-Plus Contracts

Allowances are where residential disputes live. Learn to set realistic prime cost items and provisional sums, handle adjustments and margin cleanly, and run cost-plus work transparently.

  • Contracts
  • Phone-friendly, progress saves as you go
  • Assessed — unlimited attempts
  • PDF certificate on completion

Buy this course · $49.00 or save with a points pack

You'll learn: Set, document and adjust prime cost items and provisional sums, and run cost-plus contracts, in a way that complies with the Home Building Act and keeps the final account free of surprises.

  • NSW: 3 points (Contracts)

What’s inside

  1. About this course
  2. allowances are where disputes live
  3. Prime cost items: what they are and what they are not
  4. Provisional sums: pricing work you cannot yet measure
  5. Setting realistic allowances
  6. What the Home Building Act expects of allowances
  7. Margin on overruns and credits on savings
  8. Selection schedules and deadlines
  9. Documenting selections and adjustments
  10. Estimates and the risk of underestimating
  11. Client-supplied items and the final account
  12. Cost-plus contracts: how they work and when they suit
  13. Running cost-plus transparently
  14. The client conversation that prevents the dispute

Plus 3 knowledge checks, 2 site scenarios, 1 drag-and-drop task and an assessment at the end.

Reviewed by a NSW building practitioner.

Buy this course — $49.00

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Disclaimer

The information provided in this course has been prepared using best endeavours to ensure that it is accurate, current and relevant at the time of publication. However, building legislation, regulations, standards, codes, policies and their interpretation may change over time and, in some circumstances, may be subject to interpretation or vary depending on the specific circumstances of a project.

The information provided is intended as general educational guidance only and should not be relied upon as a substitute for project-specific professional advice or verification.

Builders, contractors and other industry professionals are encouraged to independently verify the applicable requirements for each project, including the relevant legislation, regulations, standards, approvals and authority requirements, having regard to the specific site, building, construction method and circumstances.

PointCPD makes no representation or guarantee that the information provided will be applicable to every project or circumstance and recommends that participants seek appropriate professional or regulatory advice where clarification is required.