P

A policy of insurance taken out in relation to loss or damage caused by a person or persons acting in breach of its duty to act in a professional capacity.

A certificate generally issued by the Superintendent or the Certifier, to the builder and the principal, which certifies the amount of work completed and the amount for which the builder is entitled to payment from the principal.

A claim made by the builder seeking payment of money from the principal proportionate to the amount of work completed to date. Progress claims are frequently made on a monthly basis.

A payment of money made by the Principal to the builder in response to the builder's Progress Claim.

A package of documents compiled for the purpose of defining the objectives, design parameters, plans and specifications, budget or other matters relating to a project.

A group of stakeholders in a project assembled to monitor and control issues relating to project planning and/or implementation such as scope variation and development, defect issues and general progress of works.

A legal principle deriving from the decision in Peak Construction (Liverpool) Ltd v McKinney Foundations Limited (1971) BLR 111 whereby if a party to a contract has been prevented from fulfilling its contractual obligations due to the conduct of the other party, the preventing party cannot enforce strict adherence to contractual times for performance.  The prevention principle is closely aligned to the principle that no party may benefit from its own breach of contract.  It is often considered in the context of determining a party's contractual entitlement to liquidated damages.

The method of constructing or supplying the Works or Services relating to a project. There are many different types of project delivery methods. Examples include construct-only contracts, design and construct contracts, design, construct and finance contracts and construction management contracts.

A list setting out each item of material or work required for construction and the type, cost per unit, estimated quantity and estimated total price of each item, submitted by the contractor to the superintendent or by the subcontractor to the head contractor. The 'priced bill' is used in establishing the price of the variations to the contract and to determine progress payments.

A Project Manager can either be: (a) the person who is employed by the contractor and has authority and responsibility for conducting the project and meeting project objectives (also often known as the Project Director); or (b) the person or company engaged by the principal to administer a number of the principal's responsibilities under the contract.