Part a Total Ghana Limited a construction company is undertaking the Installation of a Traffic Management System in the Greater Accra Region. The Conditions of Contract is the FIDIC for EPC/Turnkey Projects 1989. The Client is the Republic of Ghana. The Government of Ghana has allocated funds for the project in the Governments annual budgetary allocation to the Ghana Highways Authority. The completion period is one (1) year. However, one (1) year after contract award, the Client has not paid any Interim Payment Certificate approved and validated by the Engineer. The Company has received a letter from the Client indicating that the contract has been terminated stating delay as the cause of termination. Discuss with reference to relevant clauses the necessary steps your company should take in accordance with the contract in the light of the letter received from the Client.

Part b Contractors are required to determine their build up rates for every work item in a contract. Failure to adequately determine the cost components of all work item can lead to under-pricing or over-pricing. Under-pricing will lead to significant loses in a contract whiles over prices may give significant profit when awarded the project. However, over pricing may lead to non-competitive pricing. Discuss the components of work to which cost information are required by every estimator.

Part c Tenderers usually assess and manage project risk during the tender process period. Being the project manager of your company discuss the your consideration during Tender adjustments.