Common use of Project Monitoring Clause in Contracts

Project Monitoring. 6.1 The Contractor shall provide a project report to the National Petroleum Agency. 6.2 For major projects exceeding $5,000,000 or its equivalent, the Contractor shall provide to the National Petroleum Agency a detailed quarterly report which shall include: (a) approved budget total for each project; (b) expenditure on each project; (c) variance and explanations; (d) number and value of construction change orders; (e) bar chart of schedule showing work progress and work already completed and schedule of mile-stones and significant events; and (f) summary of progress during the reporting period, summary of existing problems, if any, and proposed remedial action, anticipated problems, and percentage of completion, provided that the National Petroleum Agency shall have the right to send its own representatives to assess the project based on the report. 6.3 In the case of an increase in cost in excess of five percent (5%) of the project, the Contractor shall promptly notify the National Petroleum Agency and obtain necessary budget approval, in accordance with Article 2.6 (c) of Schedule 2. 6.4 Not later than six (6) months following the physical completion of any major project whose cost exceeds $5,000,000 or its equivalent, the Contractor shall prepare and deliver to the National Petroleum Agency a project completion report which shall include the following: (a) a cost performance of the project in accordance with the work breakdown at the commencement of the project; (b) the significant variation in any item or sub-item; (c) a summary of problems and unexpected events encountered during the project; and

Project Monitoring. 6.1 The Contractor shall provide a project report to the National Petroleum Agency. 6.2 For major projects exceeding $5,000,000 or its equivalent, the Contractor shall provide to the National Petroleum Agency a detailed quarterly report which shall include: (a) approved budget total for each project; (b) expenditure on each project; (c) variance and explanations; (d) number and value of construction change orders; (e) bar chart of schedule showing work progress and work already completed and schedule of mile-stones and significant events; and (f) summary of progress during the reporting period, summary of existing problems, if any, and proposed remedial action, anticipated problems, and percentage of completion, provided that the National Petroleum Agency shall have the right to send its own representatives to assess the project based on the report. 6.3 In the case of an increase in cost in excess of five percent (5%) of the project, the Contractor shall promptly notify the National Petroleum Agency and obtain necessary budget approval, in accordance with Article 2.6 (c‎2.6(c) of Schedule 2. 6.4 Not later than six (6) months following the physical completion of any major project whose cost exceeds $5,000,000 or its equivalent, the Contractor shall prepare and deliver to the National Petroleum Agency a project completion report which shall include the following: (a) a cost performance of the project in accordance with the work breakdown at the commencement of the project; (b) the significant variation in any item or sub-item; (c) a summary of problems and unexpected events encountered during the project; and (d) a list of excess materials.

Project Monitoring. 6.1 The Contractor shall provide a project report to the National Petroleum Agency. 6.2 For major projects exceeding $5,000,000 or ar its equivalent, the Contractor shall provide to the National Petroleum Agency a detailed quarterly report which shall include: (a) approved budget total for each project; (b) expenditure on 011 each project; (c) variance and explanations; (d) number and value of construction change orders; (e) bar chart of schedule showing work progress and work already completed and schedule of mile-stones and significant events; : and (f) summary of progress during the reporting period, summary of existing problems, if any, and proposed remedial action, anticipated problems, and percentage of completion, provided that the National Petroleum Agency shall have the right to send its own representatives to assess the project based on the report. 6.3 In the case of an increase in cost in excess of five percent (5%) of the project, the Contractor shall shal1 promptly notify the National Petroleum Agency and obtain necessary budget approval, in accordance with Article 2.6 (c) of Schedule 2. 6.4 Not later than six (6) months following fol1owing the physical completion of any major project whose cost exceeds $5,000,000 or its equivalent, the Contractor shall prepare and deliver to the National Petroleum Agency a project completion report which shall include the following:following:‌ (a) a cost performance of the project in accordance with the work breakdown at the commencement of the project; (b) the significant variation in any item or sub-item; (c) a summary of problems and unexpected events encountered during the project; and