Which document most directly records the agreed financial value of work after measured work and approved adjustments are finalized?
Correct answer: C. Final account
- A. Invitation to tender
- B. Preliminary estimate
- C. Final account
- D. Site safety plan
Explanation
The final account settles the contract price after considering measured work, variations, claims, and other permitted adjustments. A preliminary estimate and invitation to tender occur earlier, while a safety plan addresses risk control.
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About Construction Management and Estimation
Construction management covers planning, scheduling, resource control, contracts, procurement, site organisation, safety, quality assurance and project documentation. Estimation includes quantity take-off, rate analysis, bill preparation, valuation and cost control, with attention to the difference between direct and indirect costs and between an estimate, a tender and a final account.
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