Estimate at Completion definition

Estimate at Completion or “EAC” means the ratio determined by dividing the Applicable Contract Amount (Original Contract + Approved Changes) by Cost Performance Index in respect of the applicable period of time.
Sample 1Sample 2Sample 3
Estimate at Completion means a forecast of cost and time to complete a project. The estimate at completion includes the amount of cost and time incurred to date plus remaining forecasted cost and time;
Sample 1Sample 2
Estimate at Completion means the Estimate at Phase 1 Completion or the Estimate at Phase 2 Completion, as applicable;
Sample 1

Examples of Estimate at Completion in a sentence

  • Estimate at Completion includes Dominion Virginia Power Route 28 to Frying Pan Road Ductbank Installation also.

  • This includes the accuracy of Estimate at Completion (EAC), accuracy of cost projections and effectiveness of baseline change management.

  • Estimate at Completion on Dec.10,2017 [***] Information has been omitted pursuant to Item 601(b)(2) of Regulation S-K.

  • Provide a comment in the Remarks section when the Project Office Estimate at Completion (EAC) differs from the total cost.

  • For contracts that do not meet the criteria to measure performance as a right to invoice under the series guidance, we utilize an Estimate at Completion process to measure progress toward completion.

  • Ms. Shields presented the budget summary spreadsheets and explained the Estimate at Completion for each of the GMP projects and overall program.

  • Armed with CV and SV, a program manager and his or her Integrated Product Team (IPT) can now calculate a rudimentary Estimate at Completion (EAC).For those not familiar with the term, EAC answers “What do we now expect the total job to cost?” (Haupt, 2002).

  • When the Estimate at Completion exceeds 10% of the construction allotment, the CMPM shall notify the Alameda CTC PM and provide a plan to bring the project within cost or recommend an increase to the allotment.

  • Predicting the expected final project cost – Cost Estimate at Completion (CEAC) – and the time to finish the project – Time Estimate at Completion (TEAC) – is essential to project on- target completion.

  • Status:No change from last month.The SAS project is trending significantly behind schedule, and the current Estimate at Completion (EAC) is significantly higher than the FFGA Baseline Cost Estimate.


More Definitions of Estimate at Completion

Estimate at Completion or "EAC" means the Contractor's reasonable estimate (prepared on a P50 estimating basis and in accordance with Good Industry Practice, but subject always to the provisions of Paragraph 3 (EAC Review) of Part 6 (Periodic Reviews) of Schedule 6 (Finance)) of the Allowable Costs (including Actual Costs of Work Performed from the Commencement Date to date, accruals, and the Budgeted Cost of Work Scheduled for activities not yet undertaken) to be incurred by it in Achieving the Interim End State (and, for the avoidance of doubt, the EAC shall be considered to be a report required by Schedule 6 (Finance) for the purposes of applying the provisions of Clause 14.1 (Reporting and Reviewing));
Sample 1

Related to Estimate at Completion

  • Project Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Construction Completion Date means date of the completion of the Construction Period, which shall be at the expiry of a period of 24 (Twenty Four) months from the Compliance Date or such other date (with the consent of the Authority) by which the overall development of the Project is completed in accordance with the provisions of this Concession Agreement and when the Construction Completion Certificate is issued by Authority as per Article 14.1.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Virtual Completion means the premise is in the opinion of the Employer fit for occupation.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Mechanical Completion means that (a) all components and systems of the Project have been properly constructed, installed and functionally tested according to EPC Contract requirements in a safe and prudent manner that does not void any equipment or system warranties or violate any permits, approvals or Laws; (b) the Project is ready for testing and commissioning, as applicable; (c) Seller has provided written acceptance to the EPC Contractor of mechanical completion as that term is specifically defined in the EPC Contract.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Improvement completion assurance means a surety bond, letter of credit,

  • Final Completion Date means the date on which Final Completion occurs.

  • Project Completion Schedule means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled Completion Date;

  • Cost Estimate means the detailed projected expenditure, including material costs and overhead, equipment costs and overhead, labor costs and overhead, and all taxes associated with each major material and service component, required for a line extension. It shall also separately identify any incremental costs associated with providing premium services. The Company may, for the purpose of standardization, establish standard construction cost estimates, for basic or premium service plans, which shall not exceed, in any event, the average cost of constructing such line extensions in the area involved, in which case the term “cost estimate” as used in this section will be understood to mean the standard estimate thus established.

  • Punch List means the list of items, prepared in connection with the inspection of the Project by the Owner’s Representative or Architect in connection with Substantial Completion of the Work or a portion of the Work, which the Owner’s Representative or Architect has designated as remaining to be performed, completed or corrected before the Work will be accepted by the Owner.

  • Tests on Completion means the tests which are specified in the Contract or agreed by both Parties or instructed as a Variation, and which are carried out under Clause 9 [Tests on Completion] before the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Punch List Items means such items (i) as are reasonably necessary or appropriate to fully complete the construction, equipping and furnishing of the Hotel in accordance with this Contract and (ii) that, unless otherwise agreed by Buyer in its sole discretion, (a) individually and in the aggregate do not and will not prohibit, cause a delay in or otherwise adversely affect, under applicable Legal Requirements, the Franchise Agreement or otherwise, the opening of the Hotel for business to the public or the continued occupancy and operation of the Hotel as contemplated under the Brand and (b) may be corrected or completed, subject to delays caused by Force Majeure, within not more than sixty (60) days.

  • Substantial Completion Date means the required date for Substantial Completion of the Project. The Substantial Completion Date can be adjusted only by written Change Order.

  • Tests after Completion means the tests (if any) which are specified in the Contract and which are carried out in accordance with the Specification after the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Study Completion means the database for the Study has been locked and all Essential Documents have been provided to the Sponsor, including a copy of the letter from the Reviewing HREC acknowledging receipt of the final report and/or closure letter from the Principal Investigator.

  • construction site means a workplace where construction work is being performed;

  • Construction Work means any work in connection with⎯

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Punchlist means a list of items of Work to be completed or corrected by Contractor after Substantial Completion. Punchlists indicate items to be finished, remaining Work to be performed, or Work that does not meet quality or quantity requirements as required in the Contract Documents.