{"id":1437,"date":"2019-05-17T17:49:20","date_gmt":"2019-05-17T07:49:20","guid":{"rendered":"https:\/\/comprara.com.au\/procurement-glossary\/change-order\/"},"modified":"2020-11-02T02:49:51","modified_gmt":"2020-11-02T02:49:51","slug":"change-order","status":"publish","type":"glossary","link":"https:\/\/www.comprara.com.au\/procurement-glossary\/change-order\/","title":{"rendered":"Change Order"},"content":{"rendered":"<p>A change order is the formal document through which a change is made to a construction <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Contract&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;A contract can be written or verbal. It is an agreement between two or more parties to perform specific acts and is enforceable by law. The six prerequisites for a legally binding contract under Australian Law are: agreement (offer and acceptance); consideration (the payment of a sum of money etc.); capacity (being of legal age and sound mind to enter legal relations); intention (the parties to the contract intend to enter legal relations); formalities (representation in writing) and certainty. See also Terms and Conditions.Contract Management Essentials and Advanced Contract Management training is available at Academy of Procurement.&lt;\/div&gt;\" href=\"https:\/\/www.comprara.com.au\/procurement-glossary\/contract\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>contract<\/a>, for example the <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scope of Work&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;The range of activities to be undertaken as part of a contract for services.  The scope of work may specify what has to be done and by when.  See also Specification.&lt;\/div&gt;\" href=\"https:\/\/www.comprara.com.au\/procurement-glossary\/scope-of-work\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>scope of work<\/a> or the completion date or the <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Price&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Price is the monetary sum exchanged for goods and services.  Price levels are an outcome of competitive processes, such as the levels of supply and demand in the market.  In procurement, most buyers are measured on the &#x2018;hard dollar&#x2019; savings that they make, and so have a keen interest in optimising price.  Most total cost models demonstrate that purchase price, while not the only component of total cost, is a key part of the total cost of most categories, and so procurement practitioners will focus on price as one procurement goal. The definition of &#x2018;best value&#x2019; in most categories includes both quantitative and qualitative elements, such as quality, service and performance times, as well as price and other commercial terms.  Like total cost, best value is a difficult concept to measure and validate accurately, as price is easier to measure and an important component of both value and total cost, price remains an important focus for most procurement processes.  See also Competition. .&amp;lt;br\/&amp;gt;&lt;\/div&gt;\" href=\"https:\/\/www.comprara.com.au\/procurement-glossary\/price\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>price<\/a> of the work.  Both parties agree to the change and the implications in terms of mutual rights and obligations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A change order is the formal document through which a change is made to a construction contract, for example the scope of work or the completion date or the price of the work. Both parties agree to the change and the implications in terms of mutual rights and obligations.<\/p>\n","protected":false},"author":2,"featured_media":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"_uag_custom_page_level_css":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Change Order - Comprara<\/title>\n<meta name=\"description\" content=\"Change Order\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.comprara.com.au\/procurement-glossary\/change-order\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Change Order - Comprara\" \/>\n<meta property=\"og:description\" content=\"Change Order\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.comprara.com.au\/procurement-glossary\/change-order\/\" \/>\n<meta property=\"og:site_name\" content=\"Comprara\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Comprara\/\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-02T02:49:51+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@Comprara\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.comprara.com.au\/procurement-glossary\/change-order\/\",\"url\":\"https:\/\/www.comprara.com.au\/procurement-glossary\/change-order\/\",\"name\":\"Change Order - 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