Final Subcontract Sum = 16 million 17 million = 14 million 13 million Installations = 12.5 million 12.975 million systems installation were executed by the main contractor and that the Profit and attendance on subcontractor work are 5% and 2.5%, P a sional Sums (PSs) in the BOQ Actual Expenditure on PSs { i Additional foundation =3.3 million 3 million ii, Steel burglar proof .2 million 2.9 million iii, Entrance canopy = 1.5 million 1.7 million iy. External works 5 million 38 million Re-measurement of Provisional Quantities: 1 Bill of Quantities Re-measurement. “i, Substructure =31.6 million 28.5 million ii. Staircase Balustrade = 1.25 million 1.8 million Contractor’s Claims Fluctuation =3.55 million Approved loss & expenses = 1.25 million y 2 1 4 i AS i 7) hy 22 Scand th Conseanner{ Final Account Particulars Omission ®%) ‘Addition ®) Contract sum| ie = 320,000,000.00 Less contingencies 25,000,000.00 Adjustment of Prime Cost Sum Electrical installations 16,000,000.00 17,000,000.00 Profit 5% 800,000.00 850,000.00 Attendance 2.5% 400,000.00 425,000.00 AJC installations 14,000,000.00 13,000,000.00 Profit 5% 700,000.00 Attendance 2.5% 350,000.00 Security Gadgets installations 12,500,000.00 12,975,000.00 Profit 5% 625,000.00 648,750.01 Attendance 2.5% 312,000.00 324,370.00 Adjustment of Provisional Sum a, Additional foundation 3,300,000.00 3,000,000.00 b. Steel burglar proof 3,200,000.00 2,900,000.00 , Entrance canopy 1,500,000.00 1,700,000.00 4. External works 35,000,000.00 38,000,000.00 Re-measurement of Provisional Quantities a, Substructure 31,600,000.00 28,500,000.00 b. Staircase balustrading 1,250,000.00 1,850,000.00 Fluctuations 3,550,000.00 Approved loss & expenses 1,250,000.00 Less VAT 5% 16,000,000.00 445,973,120.00 { 162,537,500.00 Less omission 162,537,500.00 283,435,620.00 Add VAT 5% 14,171,782.00 Anticipated final account 297,607,402.00 Less original contract sum 320,000,000.00 : Cost savings 22,392,598.00 234.0 ANALYSIS OF TENDER AND EVALUATION OF BUILDING PROJECTS 4.1 Analysis of Tender ‘Tender analysis refers to the systematic process of scrutinizing the tender documents in order to determine the responsive tenderer for the purpose of awarding contract. The following are steps involved in analysis of tender; Opening of tender Examination and evaluation of tender Adjudication of tender iv. Preparation of tender report and recommendation Factors /Criteria for Selection of Tenderer/Contractor 1. Adequacy of the tender figures/accuracy of estimate. 2, Commencement and mobilization percentage required. 3, Completion time especially when contract duration is of essence. 4. Ability to work without relying on client’s finance. 4.2. Valuation of building projects. Valuation is the formal and periodic assessment of the total value of construction project properly executed to date for the purpose of stage certificate payment. Valuation is carryout by measuring the wok executed to date, materials ordered both on/offsite and other relevant documents relating to construction project. Documents needed for the preparation of valuation. The following constitute documents required for the valuation of construction project; i, Contract bill of quantities ii, Contract drawings Approved claims 24 ‘Scand th Conseanneriv. | Previous valuation report v. Minutes of the meeting vi. — Subcontractor/supplier account Vii. Variation order viii. Fluctuation account ix. | Day work sheet X. List of materials off/onsite Work Examples: Following the breakdown of the works: executed by ABZ Concept Nig. Limited for the Constfuction of Female Hostel in Nigerian Army University Biu , with the contract sum to the tune of 334,503,687.50 contract period of ten month, Calculate the amount due to valuation nine (9). i Preliminaries 15,623,750.5 ii, Main contractor’s work (100%) = 249,635,750.00 iii. Nominated Subcontractors’ work (80%) 12,850,000.00 iv, Previous payment (cert. 1 & adv. payment) = —__247,500,000.00 V. Amortization of advance payment 100,000,000.00 Note: 10% retention limit, VAT 5%. Work out for preliminaries at valuation 9 is Baio SOLUTION: VALUATION Project Tittle: Construction of Female Hostel Client: Nigerian Army University Biu Contractor: ABZ Concept Nig. Limited Contract Sum: ® 334,503,687.50 Contract Period: Ten (10) Months Valuation Number: Nine (9) 25, ‘Scand th ConseannerPreliminaries Measured work 14,842,562.50 Net soar , __ Value of work done 274,758,312.50 ess retention (10%) aa 5.184. Add VAT (5%) 257,533,128.00 12,876,656.41 270,409,784.53 100,000,000.00 a 370,409,784.53 Tess amortization 4 x100,000,000 100,000,000.00 270,409,784.53 Add advance payment Less previous payment 147,500,000.00 Add VAT (5%) —_7,375,000.00 100,000,000.00 254,875,000.00 254,875,000.00 Amount due to valuation No. 9 15,534,787.53 26 ‘Scand th ConSeanner