Time Impact Analysis for Proposed Time Extensions Sample Clauses

Time Impact Analysis for Proposed Time Extensions. .1 If ERC claims that any event justifies an adjustment to the Project Schedule and/or an extension of the Long Stop Date, ERC shall submit to VDOT a written Time Impact Analysis (“TIA”) establishing the influence of the event on the latest approved Project Schedule update. The TIA shall demonstrate: (i) the time impact based on the date the event occurred; (ii) the status of the work at such point in time; and (iii) the time computation of all affected activities. Upon approval by VDOT, the event shall be included in the next Project Schedule update. .2 Activity delays shall not automatically mean that an adjustment to the Project Schedule and/or an extension of the Long Stop Date is warranted or due ERC. The Parties recognizes that certain events will not affect existing critical activities or cause non-critical activities to become critical, and that such events may result in only absorbing a part of the available total float that may exist within an activity chain of the network, thereby not causing any effect on the Project Schedule. Adjustments to the Project Schedule and/or extensions of the Long Stop Date will be granted only to the extent the equitable time adjustments to the activity or activities affected by the event exceeds the total float of an activity or path and extends the Project Schedule. .3 Float is not for the exclusive use or benefit of either VDOT or ERC, but rather shall be used for the benefit of the overall Project. Activity splitting or float suppression techniques will not be permitted. .4 Two copies of each TIA shall be submitted in accordance with this Article 7 along with a written proposal for any requested adjustment to the Project Schedule and/or an extension of the Long Stop Date within 10 days from the original notice as provided in Section 7.1.3 above. .5 In cases where ERC does not submit a TIA within the time requirements stated above, it shall be considered a waiver of any request for an adjustment to the Project Schedule and/or extension of the Long Stop Date. .6 Approval or rejection of each TIA by VDOT shall be made within 10 Days after receipt of each TIA, unless subsequent meetings and discussions are necessary and agreed to in writing by the Parties. Upon approval, a copy of the TIA signed by VDOT shall be returned to ERC, and incorporated into the next Project Schedule update.
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