Estimated Final Cost definition

Estimated Final Cost is the sum of incurred Chargeable Costs that has been actually incurred at the time the estimate is being made plus the estimated Chargeable Costs that will be required to complete the Project.
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Estimated Final Cost means at any time, the then-current forecast (updated regularly) of the total PO-11 Project Costs expected to be incurred through the Development Phase Recovery Period, including an allowance for contingencies. The Estimated Final Cost includes the EPC Lump Sum Price, projected incentive bonus payments to the EPC Contractor, overheads and other reimbursements due the Operator, the costs of pre-operations and start-up (including the estimated net cost due to the anticipated loss of Raw Materials and utilities that are estimated to be consumed in the Development Phase) and other costs under purchase orders and contracts related to the development of the PO-11 Plant Facilities, but excluding the Partnership Working Capital and indirect capital.
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Examples of Estimated Final Cost in a sentence

  • When a Milestone is achieved, as preconditions to Milestone ICL payments, the PMT will assess whether (1) the Project is estimated to achieve Project Final Completion within the Contract Time and (2) the Estimated Final Cost is less than or equal to the Target Cost.

  • If, through Target Value Design, the difference between the Estimated Final Cost and lower of (i) Owner's Budget and (ii) Target Cost is sufficient to cover 125% of the estimated Chargeable Costs of an Added Value Incentive Item and Owner chooses to add the Added Value Incentive Item, then the ICL will be increased by 25% of the estimated Chargeable Cost of the Added Value Incentive Item.

  • When the PMT determines to establish the Target Cost, if the Estimated Final Cost (after including Target Value Design reductions and Added Value Incentive Item additions, if any) is less than the Owner's Budget, then the ICL will be increased by 50% of the difference.

  • When a Milestone is achieved, the PMT will assess whether: (1) the Project is estimated to achieve Project Final Completion within the Contract Time; and (2) whether the Estimated Final Cost is less than or equal to the Base Target Cost (or if the Final Target Cost has been set, the Final Target Cost).

  • When a Milestone is achieved, the PMT will assess whether: (1) the Project is estimated to achieve Project Final Completion within the Contract Time; and (2) whether the Estimated Final Cost is less than or equal to 5% below the Target Cost.

  • If, through Target Value Design, the difference between the Estimated Final Cost and lower of (i) Owner's Budget and (ii) Target Cost is sufficient to cover [125]% of the estimated Chargeable Costs of an Added Value Incentive Item and Owner chooses to add the Added Value Incentive Item, then the ICL will be increased by [25]% of the estimated Chargeable Cost of the Added Value Incentive Item.