Change Order
Formal amendment to an existing project's scope or timeline.
Detailed Explanation
A Change Order is a formal document used to modify the original scope of work, timeline, or cost of a project. It is commonly used in construction, engineering, and IT services. A change order must be agreed upon and signed by both the client and the contractor. It details what is changing (e.g., additional features, extended deadline), the reason for the change, and the impact on the project budget and schedule. This ensures transparency and prevents scope creep disputes.