The Project Manager made assumptions about the effects of a compensation event which later proved to be incorrect. Is this a compensation event?
The Project Manager may state assumptions to be used in the assessment of a compensation event (see Clause 61.6). If these are found to be wrong, the Project Manager notifies a correction and this is a separate compensation event (see Clause 60.1(17)).
Only the work affected by the changed assumption are included in the assessment of this subsequent compensation event and it is not a reason or excuse to re-visti the whole of the initial compensation event.