Analysis of Price Adjustment Payments for RCC T-Beam and Pre-stressed Bridges Construction Contracts

Abstract

Purpose: Let’s compare and analyze the price adjustment payments for RCC T-beam and Pre-stressed bridges construction contracts for evaluation of the cost effectiveness of price adjustment payment.

Design/Methodology/Approach: Based on Questionnaire survey and Official documents, comparison and analysis were done for RCC T-beam and Pre-stressed bridges construction contracts of price adjustment payment.

Findings/Result: The weightage of price adjustment payment is 9% of total payment. This assessment was done to show the importance of price adjustment and its study in bridge construction contracts. As per GCC & SCC clause 53.7 of Standard Bidding Document, price adjustment is limited to 25%. Comparison of payments for price adjustments was done for different T-girder and pre-stressed bridges. Price adjustment payments for the computed price adjustment coefficients were calculated and compared with that of the actual payment made.

Originality/Value: This research was mainly dedicated to deriving logical price adjustment coefficient ranges in making the price adjustment process for RCC T-girder and prestressed construction contracts economical.

Paper Type: Research paper