Maintaining Price Index Information

Prices fluctuate greatly for some work items, such as fuel or items that contain oil. Price adjustment indexes are maintained to track changes in prices for specific work items. Price adjustment indexes also establish parameters for adjusting payment amounts when price changes exceed a certain value or percentage.

When you click the Price Indexes link in the Reference Data component, the system takes you to the Reference Price Index Overview component where you can view and delete price adjustment indexes. To locate the price index you want to maintain, type criteria in the Quick Find search box or click Show first 10.

The system displays a list of the price adjustment indexes that match your search criteria. Each row contains an Actions button and current values for the following fields:

To delete a price adjustment index, select Delete from the Actions menu on the index row. You cannot delete a price adjustment index that is used on a contract. Click the Undo button to reverse the deletion. Click the Save button to apply your changes. The system deletes the price adjustment index and any associated history and adjustment records.

To add a new price adjustment index, select Add from the Actions menu on the component header. The system takes you to the Add Reference Price Index component. See Adding a Reference Price Index for more information.

To view a price adjustment index, click the Price Adjustment Index Type link or select Open from the Actions menu on the price index row. The system takes you to the Reference Price Index Summary. See Maintaining a Reference Price Index for more information.