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|English to Portuguese translations [PRO]|
Tech/Engineering - Construction / Civil Engineering
|English term or phrase: construction management-at-risk|
|Building construction is procured privately or publicly utilizing various delivery methodologies, including hard bid, negotiated price, traditional, management contracting, construction management-at-risk, design & build and design-build bridging.|
Selected response from:
João de Andrade / www.trasla.com
Local time: 03:38
|4 KudoZ points were awarded for this answer |
7 mins confidence: 41 mins confidence: Return to KudoZ list
|Reference: CM (construction management) at risk|
CM at-risk is a delivery method which entails a commitment by the construction manager to deliver the project within a Guaranteed Maximum Price (GMP), in most cases. The construction manager acts as consultant to the owner in the development and design phases, (often referred to as "Preconstruction Services"), but as the equivalent of a general contractor during the construction phase. When a construction manager is bound to a GMP, the most fundamental character of the relationship is changed. In addition to acting in the owner's interest, the construction manager must manage and control construction costs to not exceed the GMP, which would be a financial hit to the CM company.
CM at risk is a global term referring to a business relationship of Construction contractor, Owner and Architect / Designer. Typically, a CM At Risk arrangement eliminates a "Low Bid" construction project. A GMP agreement is a typical part of the CM and Owner agreement somewhat comparable to a "Low Bid" contract, but with a number of adjustments in responsibilities required by the CM. The following are some of the potential benefits of a CM At Risk arrangement:
Budget management: Before design of a project is completed ( 6 months to 1½ years of coordination between Designer and Owner), the CM is involved with estimating the cost of constructing a project based on the goals of the Designer and Owner (design concept) and the overall scope of the project. In balancing the costs, schedule, quality and scope of the project, decisions can be made to modify the design concept instead of having to spend a considerable amount of time, effort and money re-designing and/or modifying completed construction documents. For instance, if the Owner decides to spend more money or obtain more funding for the project, adjustments can be made to the project more cost-effectively without having to complete construction documents as a predecessor to pricing. To manage the budget before design is done, construction crews are mobilized, the CM is often spending significant resources each week with onsite management, major items are purchased, etc., etc., is a much more efficient use of everyone's time, effort, Architect / Designer's costs, and the CM's General Conditions costs, AND delivering to the Owner a design within his budget.
| Teresa Borges|
Works in field
Native speaker of: Portuguese
PRO pts in category: 241
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