What happens if an implemented CE does not occur? i.e the need for the works that were a CE goes away but the CE has been implemented?
“Implemented Compensation Event” under the contract means agreed in terms of time and cost. An event once implemented can not be revisited as it is full and final. Presumably there would have been an instruction for this implemented compensation event if it was triggered as a change to the Works Information. If for what ever reason this event is not not needed or wanted, well this will require a new instruction from the Project Manager to NOT do it, as this will be a further change to the Works Information. This will now be assessed using the rules for valuing a compensation event, but this time as an omission. It will unlikely to be a simple omit of the full value of the first quote - as some money may well have already been spent or the programme effects may now be different.
Each compensation event is assessed based upon its own merits at the time of assessing. A “negative CE” when works are omitted are assessed in exactly the same way. What is the cost/time impacts that the Contractor will now not incur and that should be given back to the Employer.