Control Budget Estimate Sample Clauses
Control Budget Estimate. CFZ will work closely with ESTABLISHMENT Project Manager to confirm the actual scope of the work and assign values to the various components of the Project. In order to avoid increases in cost on this Project, CFZ will utilize the following tools to establish a disciplined approach towards identifying and correcting deviations:
Control Budget Estimate. CFZ will work closely with VOLCANO Project Manager to confirm the actual scope of the work as described in the Scope Manual and propose values to the various components of the Project which will be approved by VOLCANO. In order to avoid increases in cost on this Project, CFZ will utilize the following tools to establish a disciplined approach towards identifying and correcting deviations:
2.1.6.1 “Initial Budget Estimate”. This estimate will forecast construction costs on the basis of historical data and local market conditions, as well as any existing bids.
2.1.6.2 “Budget and Cash Flow”. CFZ will review and comment on the Initial Budget Estimate for the entire Project and in parallel to the preparation of the Master Schedule, provide a cash flow study so that VOLCANO understands the Project’s requirements for cash draws on a monthly basis.