Deliverable. The Construction Manager shall provide a construction cost estimate for the Project during each design milestone meeting, at a minimum. The construction estimate shall be provided in two separate formats, one that is consistent with the production-based cost model and one that is consistent with the engineer’s estimate (formatted in an Excel spreadsheet with bid item descriptions, quantities, and units). The estimate shall reflect and be consistent with the agreed upon methods and measurements of payment anticipated for each bid item and in accordance with the requirements listed in Section 4. The Construction Manager shall also provide a narrative report documenting the summary of markups, escalation, overhead, profit, and contingency. The report shall document critical assumptions, clarifications, and/or decisions of costing that may impact the fluctuations in pricing adherence and a description of allowances and exclusions. Materials selection and cost forecasting and life cycle cost analysis should also be covered in the report. The Department will review the submitted estimates and identify items not in agreement among the CM, ICE, and Department. The Construction Manager will be required to attend construction estimate review meetings as necessary to discuss assumptions and allocations associated with unit prices not in agreement. The construction schedule submitted under Task 7 shall coincide with the production and phasing assumptions used in the development of these cost estimates.
Appears in 11 contracts
Samples: Preconstruction Services Contract, Preconstruction Services Contract, Preconstruction Services Contract
