Examveda
Examveda

During the construction period, price variation clause in contracts caters to

A. Increase in rates of only important materials

B. Variation in cost in materials element, labour element and petrol-oil-lubricant element

C. Variation in total cost of the project on an ad hoc basis

D. Rate of inflation

Answer: Option B


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Related Questions on Construction Planning and Management

If to, tp and tm are the optimistic, pessimistic and most likely time estimates of an activity respectively, the expected time t of the activity will be

A. $$\frac{{{{\text{t}}_{\text{o}}} + 3{{\text{t}}_{\text{m}}} + {{\text{t}}_{\text{p}}}}}{2}$$

B. $$\frac{{{{\text{t}}_{\text{o}}} + 3{{\text{t}}_{\text{m}}} + {{\text{t}}_{\text{p}}}}}{3}$$

C. $$\frac{{{{\text{t}}_{\text{o}}} + 4{{\text{t}}_{\text{m}}} + {{\text{t}}_{\text{p}}}}}{4}$$

D. $$\frac{{{{\text{t}}_{\text{o}}} + 4{{\text{t}}_{\text{m}}} + {{\text{t}}_{\text{p}}}}}{5}$$

E. $$\frac{{{{\text{t}}_{\text{o}}} + 4{{\text{t}}_{\text{m}}} + {{\text{t}}_{\text{p}}}}}{6}$$