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ED j performed in contrast with the planned progress of performance of such work, as depicted on the original Construction Schedule and all updates and/or revisions thereto as reflected in the updated and/or revised Construction Schedule last submitted prior to submittal of each such monthly update and revision. Each such update and/or revision to the Construction Schedule shall be submitted to the Architect -Engineer in duplicate. Failure of the Contractor to update, revise, and submit the Construction Schedule as aforesaid shall be sufficient grounds for the Architect -Engineer to find the Contractor in substantial default and certify to the Owner that sufficient cause exists to terminate the Contract or to withhold payment to the Contractor until a schedule update acceptable to the Architect -Engineer is submitted. 2.1.4 Cost Control Sub System The operation of this subsystem shall provide sufficient timely data and detail to permit the Construction Team to control and adjust the Project requirements, needs, materials equipment and systems by building and site elements so that Construction will be completed at a cost which, together with all other Project costs, will not exceed the maximum total Project budget. Requirements of this subsystem include the following submissions at the following phases of the Project: Estimate i (a) At Completion of 100% Construction Documents Phase for Each Item of Bid Package. (b) At establishment of the Guaranteed Maximum Price. 2.1.5 ProqectAccountini!Subsysteni The operation of this subsystem shall enable the Construction Team to plan effectively and to monitor and control the funds available for the Project, cash flow, costs, change orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable. This subsystem will be produced and updated monthly and includes the following reports which together will serve as a basic accounting tool and an audit trail. This report will also provide for accounting by building and site element. (a) o tc Sta .s R p,2rt presenting the budget, estimate and base commitment (awarded contracts and purchase orders) for any given contract or budget line item. It shall show approved change orders for each contract which when added to the base commitment will become the total commitment. Pending change orders will also be shown to produce the total estimated probable cost to complete the work. (b) Aayment Status Report showing the value in place (both current and cumulative), the amount invoiced (both current and cumulative), the retained, the amount payable (both current and cumulative), and the balance remaining. A summary of this report shall accompany each pay request. (c) A Detailed Status Repo rt showing the complete activity history of each item in the project accounting structure. It shall include the budget, estimate and base commitment figures for each contract. It shall give the change order history including change order numbers, description, proposed and approved dates, and the proposed and approved dollar amounts. It shall also show all pending or rejected change orders. (d) A Cash Flow Diagram showing the projected accumulation of cash payments against the Project. Cash flow projections shall be generated for anticipated monthly payments as well as cumulative payments. (e) A Job Ledger shall be maintained as necessary to supplement the operation of the Project accounting subsystem. The job ledger will be used to provide Construction Cost accountability for general conditions work, on-site reimbursable expenses and costs requiring accounting needs. 2.2 Fmiect Manual (1) Upon award of contract, the Contractor shall develop a draft comprehensive Project Manual describing the services set forth in this Contract. This shall provide a plan for the control, direction, coordination and evaluation of work performed throughout the project organization including identification of key personnel, responsibilities of Contractor, Owner and Architect -Engineer; work flow diagrams; and strategy for bidding the work. The Project Manual shall be updated as necessary throughout the design, construction and Owner Occupancy phases. Five (5) copies of the Project Manual and any updates shall be submitted to the Owner and Architect -Engineer. In developing the Project Manual, the Contractor shall coordinate with the Owner and the Architect -Engineer.