What is the basis for calculating the "Final Project Construction Cost" (FPCC)?

The "Final Project Construction Cost" (FPCC) is determined primarily by Cost Records submitted after project completion. This process ensures that the actual expenditures incurred during the construction phase are accurately captured and accounted for. As construction progresses, various costs—such as labor, materials, equipment, and overhead—are documented in detail. This record-keeping is vital for post-project analysis, budget reconciliation, and future project planning.

Using these detailed cost records allows stakeholders to assess the total investment made in the project, providing a clear and comprehensive view of financial performance. It reflects the actual financial outlay rather than estimates or predetermined flat rates, thereby ensuring transparency and accuracy in reporting project costs. This method also helps to inform future projects by providing real data that can be analyzed for cost control and efficiency improvements.