Reconciled Construction Cost Estimates Sample Clauses

Reconciled Construction Cost Estimates. Provide to the Owner and Using Agency reconciled Construction Cost Estimates, consisting of a composite of the separately derived Design Professional's current Statement of Probable Construction Cost and the CM/GC's Construction Cost Estimate, each based upon the Program and design documents prepared by the Design Professional. Reconciled Construction Cost Estimates shall be prepared at the conclusion of the Schematic Design Phase, at the conclusion of the Design Development Phase, when Construction Documents are approximately 50% complete and prior to the submission of the Guaranteed Maximum Price Proposal. If at any time the Design Professional's current Statement of Probable Construction Cost and the Construction Cost Estimate of the CM/GC are, in the CM/GC's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Owner, the Design Professional and the CM/GC shall confer to resolve such differences and, if such differences cannot be resolved, the CM/GC shall make such recommendations to the Owner as CM/GC may deem necessary or appropriate to resolve such differences.
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Reconciled Construction Cost Estimates. Provide to the Board reconciled Construction Cost Estimates, consisting of a composite of the separately derived Design Professional's current Statement of Probable Construction Cost and the CMR's Construction Cost Estimate, each based upon the Program and design documents prepared by the Design Professional. Reconciled Construction Cost Estimates shall be prepared at the conclusion of Schematic Design Phase, at the conclusion of the Design Development Phase, when Construction Documents are approximately 50% complete and prior to the submission of the Guaranteed Maximum Price Proposal. If at any time the Design Professional's current Statement of Probable Construction Cost and the Construction Cost Estimate of the CMR are, in the CMR's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Board, the Design Professional and the CMR shall confer to resolve such differences and, if such differences cannot be resolved, the CMR shall make such recommendations to the Board as CMR may deem necessary or appropriate to resolve such differences. If any estimate submitted to Board exceeds previously approved estimates or the Construction Cost Estimate in the Development Budget, CMR shall make appropriate recommendations as to alternatives to reduce the Construction Cost Estimate or other project costs through value engineering without reducing quality, reduction of cost through re-sequencing the job or reducing the construction time, and/or program reduction, or other cost saving recommendations to the Board and Design Professional.
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Reconciled Construction Cost Estimates. Provide to the Owner and User Reconciled Construction Cost Estimates, consisting of a composite of the separately derived Architect's Estimate of Probable Construc- tion Cost and the Construction Manager's Construction Cost Estimate, each based upon the Program and design documents prepared by the Architect. Reconciled Construction Cost Estimates shall be prepared prior to the submission of the Guaranteed Maximum Price Proposal. If at any time the Architect's Estimate of Probable Construction Cost and the Construction Cost Estimate of the Construction Manager are, in the Construction Manager's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Owner, the Architect and the Construction Manager shall confer to resolve such differences and, if such differences cannot be resolved, the Construction Manager shall make such recommendations to the Owner as Construction Manager may deem necessary or appropriate to resolve such differences.
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Related to Reconciled Construction Cost Estimates

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds ten percent (10%) of CITY’s stated construction budget, CONSULTANT shall make recommendations to CITY for aligning the PROJECT design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Construction Costs Under no circumstances shall the Consultant be liable for extra costs or other consequences due to unknown conditions or related to the failure of contractors to perform work in accordance with the plans and specifications. Consultant shall have no liability whatsoever for any costs arising out of the Client’s decision to obtain bids or proceed with construction before the Consultant has issued final, fully-approved plans and specifications. The Client acknowledges that all preliminary plans are subject to substantial revision until plans are fully approved and all permits obtained.

  • Construction Budget The total amount of funds indicated by the District for the entire Project plus all other costs, including design, construction, administration, and financing.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Project Cost An updated cost spreadsheet reflecting the current forecasted cost vs. the latest approved budget vs. the baseline budget should be included in this section. One way to track project cost is to show: (1) Baseline Budget, (2) Latest Approved Budget, (3) Current Forecasted Cost Estimate, (4) Expenditures or Commitments to Date, and (5) Variance between Current Forecasted Cost and Latest Approved Budget. Line items should include all significant cost centers, such as prior costs, right-of-way, preliminary engineering, environmental mitigation, general engineering consultant, section design contracts, construction administration, utilities, construction packages, force accounts/task orders, wrap-up insurance, construction contingencies, management contingencies, and other contingencies. The line items can be broken-up in enough detail such that specific areas of cost change can be sufficiently tracked and future improvements made to the overall cost estimating methodology. A Program Total line should be included at the bottom of the spreadsheet. Narratives, tables, and/or graphs should accompany the updated cost spreadsheet, basically detailing the current cost status, reasons for cost deviations, impacts of cost overruns, and efforts to mitigate cost overruns. The following information should be provided:

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