Valuing change
Published May 2010
Reissued March 2025
This practice information summarises what is meant by ‘change’ and how it is valued under JCT, NEC and FIDIC forms of contract.
Change is given specific definition within standard forms of contract, for example a Variation, Change of Employer’s Requirements or a Compensation Event. Each of these terms is explained in the definition section of the relevant contract conditions.
This document offers guidance for each of the main groups of contracts and the forms in most regular use within those groups, under the following headings which map to the Assessment of Professional Competence (APC):
• General principles (Level 1: Knowing)
• Practical application (Level 2: Doing)
• Practical considerations (Level 3: Doing/Advising)
This document was reissued in March 2025 as RICS practice information. It had previously been published in May 2010 as an RICS guidance note. No material changes have been made to the document.