Under NEC3 PSC option C, I can see very clearly the following would change the Prices (i.e. the target):
- implemented compensation events (65.3)
- acceleration quote (34.4)
- X1 price adjustment for inflation (X1.3)
But are there other things that should also change the Prices that are not mentioned? For example, we have X6 bonus for early Completion?
Under option C the Price for Services Provided to Date (PSPD) is the Time Charge for work Completed, and the Prices are the activities on the Activity Schedule. Clause 50.3 states Consultant gets paid PSPD, and other amounts to be paid. This X6 bonus for early Completion I then assume is another amount which is then treated outside of the Target?
Only the elements stated within the contract can change the Prices, the only ones being the ones you have stated in your question above. Anything else like X6 bonus for early completion would just be paid as “another amount” in accordance with clause 50.3.
The reason for this is that X6 would be a fixed cost and can not be any more or less so no need to change the target. A compensation event or acceleration could still end up costing more (or less) then the quotation so would still be assessed as part of the gain/pain share. The target goes up by the agreed amount, but then the actual cost for the acceleration may be a bit less (or more) and the difference is shared as part of the pre-agreed share percentage for option C.