Common use of Budget and Cost Consultation Clause in Contracts

Budget and Cost Consultation. 5.1.3.1 Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require Design/Build Contractor to revise, at no charge to Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.

Budget and Cost Consultation. 5.1.3.1 The Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 The Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, the Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require the Design/Build Contractor to revise, at no charge to the Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, the Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require the Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if the Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.

Budget and Cost Consultation. 5.1.3.1 The Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 The Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, the Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require the Design/Build Contractor to revise, at no charge to the Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, the Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require the Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if the Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.

Budget and Cost Consultation. 5.1.3.1 Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ MasterFormat format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require Design/Build Contractor to revise, at no charge to Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.

Budget and Cost Consultation. 5.1.3.1 The Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 The Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ MasterFormat format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, the Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require the Design/Build Contractor to revise, at no charge to the Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, the Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require the Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if the Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.

Budget and Cost Consultation. 5.1.3.1 The Design/Build Contractor is responsible for preparing and updating all procurement and construction cost estimates and distributing them to the Project Team throughout the duration of the Project. 5.1.3.2 The Design/Build Contractor shall provide updated and detailed Estimated Construction Cost reports at the required stages of completion of the schematic design, design development, and construction document stages of the Project. The Estimated Construction Cost reports for the design development and construction document stages shall be detailed estimates derived from cost quantity surveys based on unit prices for labor, materials, overhead and profit, organized in Construction Specifications Institute MasterFormat™ MasterFormat format for each portion of the Work. If the Estimated Construction Cost exceeds the Construction Cost Limitation at any time, the Owner will determine, solely at Owner’s discretion, whether to increase the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no increase in the Construction Cost Limitation, or to require the Design/Build Contractor to revise, at no charge to the Owner, the Project scope or quality to comply with the Construction Cost Limitation. Reductions in Project scope or quality are subject to Owner’s review and approval. If the Estimated Construction Cost is below the Construction Cost Limitation at any time, the Owner may determine, solely at Owner’s discretion, whether to reduce the Construction Cost Limitation, or to instruct the Design/Build Contractor to proceed to the next stage of design with no decrease to the Construction Cost Limitation, or to require the Design/Build Contractor to increase the Project scope or quality. 5.1.3.3 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of decisions that affect the scope or quality of the Project and providing ongoing updates of their cost and budget impact. Advise the Project Team immediately if the Design/Build Contractor has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or not meet Project Schedule requirements and recommend reasonable strategies for bringing the Project in line with the CCL and the Project Schedule. 5.1.3.4 Design/Build Contractor shall promptly identify all variances between estimated costs and actual costs during the Pre-construction Phase and the Construction Phase, and shall promptly report such variances to the Project Team along with recommendations for action, but in any event no more than two (2) business days after acquiring such information.