Cost Estimates. Construction Manager shall deliver and meet with Owner Parties to discuss detailed estimates of the Contract Sum, and updates to those detailed estimates, in accordance with this Agreement and on the dates set forth in the Project Schedule. Construction Manager’s cost estimates shall use recognized and accepted industry techniques. In the event Construction Manager’s cost estimate exceeds its applicable Target GMP, Construction Manager shall meet with Owner Parties to discuss changes and review alternatives necessary to establish a mutually acceptable GMP. Upon request, Construction Manager shall estimate the costs of alternative designs or Materials to determine preliminary budgets and their possible economies, including those necessitated by special procurement issues, as set forth in Section 5.3.2 above.
Appears in 6 contracts
Samples: Construction Manager at Risk and General Contractor Agreement, Construction Manager at Risk and General Contractor Agreement, Construction Manager at Risk and General Contractor Agreement
