A Commercial Baseline is the basis of the proposal estimate terms and conditions that includes the project execution plan, design and engineering basis, staffing plan, equipment tagged item list and quantity, bulk material BM take off, and construction implementation plan, subcontractors pricing basis, and other commercial basis such as applied company over head and profits, bonds, insurance, taxes, contingencies and allowances, etc., as well as the Project Risk Management cost and project contingencies. The Commercial Baseline is documented and updated them as necessary during the contract clarifications and negotiation meetings with owner, and hand-over to the project team for the Project execution.
Related Definitions in the Project: The Project Baseline; The Project Cost
