P

Last updated 9 months ago

Pending – the project stays in this phase until a determination is made by the Owner whether to go ahead with the project. From here the GC can create a revision (this saves the original project in Pending and creates a revision in Bidding), set to Not Awarded, or set to Bidding (this returns the job to the Bidding phase where the GC can adjust the estimate and proposal package). If the project is awarded to the GC, they would accept the alternates as prescribed and create the Owner Contract in Pending before the project is promoted to Will Start Soon. The PASKR contract value must equal the Owner’s contract value exactly before the GC promotes the project to Will Start Soon. Once the project is in Will Start Soon, the GC will not be able to change the contract value or move the status of the project backward.

Phases – when a large construction project is being done in different stages. Each stage is considered a phase.

PlanRoom – the place where drawings, specifications and addenda are stored for a project.

Profit – the % applied to cost item prices + labor burden + sales tax + overhead.

Project Backup - a client can back up their projects to their hard drive, server or disc at any time. We suggest clients create a final back up after closing out a project.

Project Completion Date - the date a project is to be completed.

Project Manager - a person that oversees/directs a project from beginning to end.

Project Status - the different stages of a project: Not Awarded, Bidding, Pending, Will Start Soon, In Progress and Closed.

Punchlist – a list of discrepancies that need to be corrected by the contractor/Subcontractors prior to final release of retention payments.

Purchase Order – a formal document that is used by the Project Manager to request that materials be purchased for the project and delivered to the Project Site.