Claim

Claim - In any sizable Project in infrastructure - the contract contains the details of the standards as per which the work has to be performed. Any change in the agreed terms and conditions can lead to a situation, when one of the parties involved in the project - which is affected by the change can demand additional compensation - in terms of money or time or both from the other party. This is referred as a Claim. The claim then needs to be objectively evaluated and decision taken. A claim may or may not have time overrun / cost overrun implications.