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.
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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;
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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));
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Examples of Estimate at Completion in a sentence

  • Estimate at Completion includes Baseline Budget plus any changes funded via contingency drawdown requests and budget transfer requests.

  • Estimate at Completion will be re-evaluated when project is re-activated.

  • Best/Worst/Most Likely Management Estimate at Completion (MEAC):The Best Case Management Estimate at Completion assumes the completion of approved workscope at the current contract budget baseline value.

  • Estimate at Completion for Contingency reflects the remaining amount.

  • Estimate at Completion is the sum of the awarded task orders under the contract.

  • SPC recommends that SPP’s project tracking process be enhanced to require all projects with an approved NTC Project Estimate (“NPE”) or latest Estimate at Completion (“EAC”) in excess of $20 Million be reported monthly; all other projects will be required to be updated quarterly.

  • Estimate at Completion includes Baseline Budget plus any changes funded via contingency drawdown requests and budget transfer requests Excludes BettermentsOn May 14, 2013, MWAA awarded the Package A Contract for final design and construction of the line and stations in the amount of $1,177,777,000.

  • Estimate at Completion includes Baseline Budget plus any changes funded via contingency drawdown requests and budget transfer requests Excludes $11 8 million BettermentsOn May 14, 2013, MWAA awarded the Package A Contract for final design and construction of the line and stations in the amount of $1,177,777,000.

  • The Most Likely Management EAC reflects the Estimate at Completion including management reserve.

  • The Most Likely Management Estimate at Completion reflects recognition of significant additional work scope in FY 2009, FY 2010, and FY 2011 related to ARRA support activities to site contractors, and other DOE authorized activities beyond the original contract assumptions.


More Definitions of Estimate at Completion

Estimate at Completion means the Estimate at Phase 1 Completion or the Estimate at Phase 2 Completion, as applicable;
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Related to Estimate at Completion

  • Project Completion means completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • 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 means physical construction of a cleanup action component is complete.

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer 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;

  • 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 date on which Substantial Completion occurs.

  • 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.