Common use of Monthly Updates Clause in Contracts

Monthly Updates. 5.1.3.1 CONTRACTOR shall submit to PM/CM each month an up-to-date status report of the work. The status report shall include: A. Monthly Cash Flow Report projected through end of the project with the baseline projected cash flow remaining unchanged for the duration of the project and actual cash flow updated on a monthly basis. Cash flow reporting shall be in a format provided by PM/CM. B. CONTRACTOR’S estimated percentage complete for each activity not yet complete. C. Actual start/finish dates for activities as appropriate. D. Identification of processing errors, if any, on the previous update reports. E. Revisions, if any, to the assumed activity durations including revisions for weather impact for any activities due to the effect of the previous update on the schedule. F. Identification of activities that are affected by proposed CHANGE ORDERS issued during the update period. G. Resolution of conflict between actual work progress and schedule logic. When out of sequence activities develop in the CONTRACT SCHEDULE because of actual construction progress, CONTRACTOR shall submit revision to schedule logic to conform to current status and direction. H. Anticipated Work during the next reporting period. I. Work accomplished during the current reporting period. J. Identify problems and potential solutions. 5.1.3.2 PM/CM will review the updated information and meet with CONTRACTOR each week at the SITE to determine the status of the WORK. If agreement cannot be reached on any issue, CONTRACTOR will use PM/CM’s determination in the processing of the update. 5.1.3.3 CONTRACTOR will incorporate PM/CM’S review comments and submit two (2) copies of the report. 5.1.3.4 Progress payments pursuant to the CONTRACT will be based on the update of the CONTRACT SCHEDULE.