Glossary

Construction risk terms, explained plainly

Short definitions for the cost and schedule words that show up in portfolio reviews. Examples use obviously hypothetical projects. No invented industry statistics.

• Adjusted contract valueRead
• Billed vs complete percentRead
• Change orderRead
• Committed costRead
• Cost to completeRead
• Cost varianceRead
• Critical pathRead
• Estimate at completionRead
• Liquidated damagesRead
• Original contract valueRead
• RFI agingRead
• Schedule floatRead