Valuing Change, 1st edition

This guidance note summarises what is meant by ‘change’ and how it is valued under JCT, NEC and FIDIC forms of contract.

Change is given specific definition within standard forms of contract, for example a Variation, Change of Employer’s Requirements or a Compensation Event. Each of these terms is explained in the definition section of the relevant contract conditions.

This note offers guidance for each of the main groups of contracts and the forms in most regular use within those groups, under the following headings which map to the Assessment of Professional Competence (APC):

• General principles (Level 1: Knowing)
  
• Practical application (Level 2: Doing)
  
• Practical considerations (Level 3: Doing/Advising)