Learn how progress payments in property development work, how to assess builder claims, manage variations and finance, and avoid paying ahead of construction.

Learn what Practical Completion in Property Development means, why it matters, and how it affects handover, defects, payments, risk and project success.

When reviewing a construction contract, most developers focus on the total build price. But the real risk often sits in the fine print—specifically in Prime Cost (PC) items and Provisional Sums (PS). These allowances can significantly alter your final construction cost, and if not properly understood, they can erode feasibility and profit. For developers, understanding Prime Cost vs Provisional Sum isn’t optional—it’s essential for making informed decisions before committing