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Abandoned Design and Construction

Project costs shall include costs incurred because of the cancellation of all or part of a contract or purchase order to procure, manufacture, or assemble an item of Plant and Capital Equipment (PACE). These costs, less any salvage credits, shall be distributed over the remaining units of property within the project for project accounting purposes, except where such distribution significantly distorts the cost of the remaining property units. Where such distortion occurs, the costs of the abandoned project or project segment may be closed from construction work in progress to abandoned projects. All charges to abandoned projects shall be approved by the Head of the Field Element.

No items have been linked to this term.
  • Finance
  • Procurement

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