Common use of Budget and Cost Consultation Clause in Contracts

Budget and Cost Consultation. 5.4.1 Prepare and update all procurement and construction cost estimates and distribute them to the Project Team throughout the duration of the Project. Provide (2) two copies contemporaneously to the ODR and (6) six copies to the ODSR. 5.4.2 During the Design Stage, provide Estimated Construction Cost (ECC) reports at the completion of Schematic Design, Design Development, 50% Construction Documents, [75% Construction Documents], and 100% Construction Documents phases of the A/E design contract as required in Article 25. The ECC reports for the Design Development and Construction Documents phases of design shall be detailed estimates derived from cost/quantity surveys and based on unit prices for labor, materials, overhead and profit. Lump sum estimates will not be accepted where the existing documents allow for quantity take offs. Each ECC report must explicitly address cost escalation (inflation) in a manner approved by the ODR. The ECC shall be organized in Construction Specifications Institute (CSI) division format for each portion of the Work. 5.4.3 Reconcile each ECC with the Owner’s or A/E’s cost estimator to a mutually agreed upon amount. 5.4.4 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of the cost implications of decisions that affect the scope or quality of the Project. Update cost and budget impacts when changes occur. Advise the Project Team (with separate, written notice to the ODR) immediately if the CM has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or will not meet Project Schedule requirements. In such cases, recommend reasonable strategies for bringing the Project back in line with the CCL and the Project Schedule. 5.4.5 Should any ECC vary significantly from the approved CCL, the Owner and CM shall negotiate changes to the Project requirements or the CCL, as required to regain the feasibility of completing the Project within target parameters. The Owner shall define a significant variance.

Budget and Cost Consultation. 5.4.1 Prepare and update all procurement and construction cost estimates and distribute them to the Project Team throughout the duration of the Project. Provide (2) two copies contemporaneously to the ODR and (6) six copies to the ODSR. 5.4.2 During the Design Stage, provide Estimated Construction Cost (ECC) reports at the completion of Schematic Design, Design Development, 50% Construction Documents, [<<75% %>> Construction Documents], Documents and 100% Construction Documents phases of the A/E design contract as required in Article 25. The ECC reports for the Design Development and Construction Documents phases of design shall be detailed estimates derived from cost/quantity surveys and based on unit prices for labor, materials, overhead and profit. Lump sum estimates will not be accepted where the existing documents allow for quantity take offs. Each ECC report must explicitly address cost escalation (inflation) in a manner approved by the ODR. The ECC shall be organized in Construction Specifications Institute (CSI) division format for each portion of the Work. 5.4.3 Reconcile each ECC with the Owner’s or A/E’s cost estimator to a mutually agreed upon amount. 5.4.4 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of the cost implications of decisions that affect the scope or quality of the Project. Update cost and budget impacts when changes occur. Advise the Project Team (with separate, written notice to the ODR) immediately if the CM has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or will not meet Project Schedule requirements. In such cases, recommend reasonable strategies for bringing the Project back in line with the CCL and the Project Schedule. 5.4.5 Should any ECC vary significantly from the approved CCL, the Owner and CM shall negotiate changes to the Project requirements or the CCL, CCL as required to regain the feasibility of completing the Project within target parameters. The Owner shall define a significant variance.

Budget and Cost Consultation. 5.4.1 Prepare and update all procurement and construction cost estimates and distribute them to the Project Team throughout the duration of the Project. Provide (2) two copies contemporaneously to the ODR and (6) six copies to the ODSR. 5.4.2 During the Design Stage, provide Estimated Construction Cost (ECC) reports at the completion of Schematic Design, Design Development, 50% Construction Documents, [<<75% %>> Construction Documents], Documents and 100% Construction Documents phases of the A/E design contract as required in Article 25. The ECC reports for the Design Development and Construction Documents phases of design shall be detailed estimates derived from cost/quantity surveys and based on unit prices for labor, materials, overhead and profit. Lump sum estimates will not be accepted where the existing documents allow for quantity take offs. Each ECC report must explicitly address cost escalation (inflation) in a manner approved by the ODR. The ECC shall be organized in Construction Specifications Institute (CSI) division format for each portion of the Work. 5.4.3 Reconcile each ECC with the Owner’s or A/E’s cost estimator to a mutually agreed upon amount. 5.4.4 Provide continuous cost consultation services throughout the duration of the Project, including identification and tracking of the cost implications of decisions that affect the scope or quality of the Project. Update cost and budget impacts when changes occur. Advise the Project Team (with separate, written notice to the ODR) immediately if the CM has reason to believe that the most current ECC will exceed the Construction Cost Limitation (CCL) or will not meet Project Schedule requirements. In such cases, recommend reasonable strategies for bringing the Project back in line with the CCL and the Project Schedule. 5.4.5 5.4.4 Should any ECC vary significantly from the approved CCL, the Owner and CM shall negotiate changes to the Project requirements or the CCL, CCL as required to regain the feasibility of completing the Project within target parameters. The Owner shall define a significant variance.