How Does an Option to Wait or Postpone a Project

question 4

Essay

How does an option to wait or postpone a project add value to the project?

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Definitions:

Rendered Performance

The act of providing or completing a service as per the terms of an agreement or contract.

Complete Performance

refers to the fulfillment of all terms and conditions as outlined in a contract or agreement, without deviation or shortfall.

Substantial Performance

A legal principle where a party has completed enough of their contractual obligations to warrant payment, despite minor deviations from the specified performance.

Absolute Promise

A commitment or guarantee that is unconditional and without any limitations or qualifications.