Glossary · finance
Change Order
Also: change-of-scope, CO
A change order is the formal mechanism for modifying a signed contract: scope changes, schedule extensions, price adjustments. Change orders quantify the work in question, price it, and require approval before execution. In events and fabrication, change orders prevent the all-too-common 'the producer asked for this, we did it, now no one wants to pay for it' pattern. Every change order writes to the project budget on approval.
Last updated June 18, 2026