Certified Construction Industry Financial Professional (CCIFP) Practice Exam

Change orders typically adjust which aspects of a project?

Scope, cost, and schedule Color, material, and vendor Location, weather, and permit Tax, insurance, and interest

Correct Answer:

Scope, cost, and schedule

Explanation:

Change orders adjust three elements of a project: the scope of work, the contract price, and the project schedule. A change order is a formal written amendment to the contract documents that reflects an approved modification to what will be done, how much it will cost, and when it will be completed. They typically arise from owner requests, design changes, or unforeseen conditions that require altering the plan. By updating scope, cost, and timing, all parties agree on the new path, and payment terms and the project timeline are adjusted accordingly. Other factors like cosmetic choices, site conditions, or external constraints can influence the work, but the standard purpose of a change order is to document approved changes to scope, price, and schedule.

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