Given that the intent in ECC is that a compensation event is quoted form, the quotation is agreed and the work carried out and the issue therefore closed, is there any provision for amending a quotation if it is found later to contain significant costs that should not have been accepted?
Answer
The first thing to say is that most compensation events should be assessed upon a forecast of defined cost, not actual defined cost – see the last part of clause 63.1. With that in mind, the answer to your question is no, it cannot be revised. Once the project manager has accepted a quotation for a compensation event it is implemented – see clause 65.1. It cannot subsequently be revised if the forecast upon which it is based is later shown to be wrong – see clause 65.2.
