Common use of Reconciled Construction Cost Estimates Clause in Contracts

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.

Reconciled Construction Cost Estimates. Provide to the Owner and Using Agency reconciled Construction Cost Estimates, consisting of a composite of the separately derived Design ProfessionalProgram Manager's current Statement of Probable Construction Cost and the CM/GCDesign-Builder's Construction Cost Estimate, each based upon the Program and design documents prepared by the Design ProfessionalProgram Manager. 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 ProfessionalProgram Manager's current Statement of Probable Construction Cost and the Construction Cost Estimate of the CM/GC Design-Builder are, in the CM/GCDesign-Builder's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Owner, the Design Professional Program Manager and the CM/GC Design-Builder shall confer to resolve such differences and, if such differences cannot be resolved, the CM/GC Design-Builder shall make such recommendations to the Owner as CM/GC Design-Builder may deem necessary or appropriate to resolve such differences.

Reconciled Construction Cost Estimates. Provide to the Owner and Using Agency reconciled Construction Cost Estimates, consisting of a composite of the separately derived Design ProfessionalExecutive Administrator's current Statement of Probable Construction Cost and the CM/GCDesign-Builder's Construction Cost Estimate, each based upon the Program and design documents prepared by the Design ProfessionalExecutive Administrator. 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 ProfessionalExecutive Administrator's current Statement of Probable Construction Cost and the Construction Cost Estimate of the CM/GC Design-Builder are, in the CM/GCDesign-Builder's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Owner, the Design Professional Executive Administrator and the CM/GC Design-Builder shall confer to resolve such differences and, if such differences cannot be resolved, the CM/GC Design-Builder shall make such recommendations to the Owner as CM/GC Design-Builder may deem necessary or appropriate to resolve such differences.

Reconciled Construction Cost Estimates. Provide to the Owner and Using Agency reconciled Construction Cost Estimates, consisting of a composite of the separately derived Design ProfessionalProgram Manager's current Statement of Probable Construction Cost and the CM/GCDesign-Builder's Construction Cost Estimate, each based upon the Program and design documents prepared by the Design ProfessionalProgram Manager. 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 ProfessionalProgram Manager's current Statement of Probable Construction Cost and the Construction Cost Estimate of the CM/GC Design-Builder are, in the CM/GCDesign-Builder's judgment, not reconcilable or exceed corresponding components of the Project Budget, the Owner, the Design Professional Program Manager and the CM/GC Design-Builder shall confer to resolve such differences and, if such differences cannot be resolved, the CM/GC Design-Builder shall make such recommendations to the Owner as CM/GC Design- Builder may deem necessary or appropriate to resolve such differences.