Reinvestment in engineering projects
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Dear fellow project managers, as a newcomer to project management, what does “returning funds” mean?
My personal understanding: Returning funds means sending back the design documents from the design institute. In other words, the various conditions (materials) related to the equipment provided by the manufacturer and obtained by the owner, which are used for design, are returned to the design institute for the preparation of construction drawings for the project.
Pfft, those bookworms upstairs – the funds returned are meant as payment for the design work done by the design institute; the 5% bonus given by the institute goes to certain people, as per some unspoken rules
Honestly, there’s no need to use the term “refund” here. . . . . . Return capital――Oppose the corrupt practices of capitalism, and remain steadfast on the socialist path
Submitting materials means sending them in, while returning materials means sending them back.
In our company, if someone from the client side wants to get a refund for design costs, our managers will definitely allow us to go ahead and make adjustments such as increasing the thickness of pipes by 2 mm, changing the material from carbon steel to stainless steel, replacing pumps with variable-frequency pumps, digging the foundation deeper by half a meter, and adding 2.30 meters to the overall length of the structure.