Target GMP definition

Target GMP means the Project cost limitations established for a Deliverable Portion of Work during preconstruction.
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Examples of Target GMP in a sentence

  • If the CM/GC does not furnish a GMP acceptable to Owner within Owner's Target GMP Range, or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate the Contract without liability, and the CM/GC shall not receive additional compensation beyond the Preconstruction Fee under the Contract and sums due under any Early Work Amendment.

  • Prior to expending or committing any portion of the Target GMP, the Contractor shall obtain the Department’s written approval of such expenditure or commitment.

  • Unless and until the GMP Amendment is executed and approved by the Council for the District of Columbia, this Contract has a not-to-exceed amount equal to the Target GMP.

  • 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.

  • If Construction Manager’s reconciled Schematic Design Documents cost estimate exceeds the applicable Target GMP, Construction Manager shall promptly furnish Owner Parties with Value Engineering proposals that will cause the estimate to meet or be less than that Target GMP.

  • Notwithstanding Construction Manager’s estimate exceeding the Target GMP, Owner may, in its sole discretion, accept or reject any proposed changes.

  • If the CM/GC does not furnish a GMP acceptable to Owner within Owner's Target GMP Range, or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate this Contract without liability, and the CM/GC shall not receive additional compensation beyond the Preconstruction Fee under this Contract and sums due under any Early Work Amendment.

  • The CM/GC shall provide the Owner with detailed VE, as that term is defined herein, evaluations, and recommendations to modify the Project design and Design Documents to correspond to the Target GMP Range and scheduled Substantial Completion Date(s).

  • The CM/GC shall notify the Architect and Owner’s Authorized Representative when the Design Documents being developed by the Architect deviate from the Target GMP Range.

  • Design Build Entity shall design the Project utilizing Lean Project Delivery Methods, including, without limitation, the Target Value Design approach, to ensure the Project design is consistent with the Performance Criteria Documents and does not exceed the Target GMP.

Related to Target GMP

  • TARGET 2 means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007.

  • Target Population means persons with low incomes who have one or more disabilities, including mental illness, HIV or AIDS, substance abuse, or other chronic health condition, or individuals eligible for services provided pursuant to the Lanterman Developmental Disabilities Services Act (Division 4.5 (commencing with Section 4500) of the Welfare and Institutions Code) and may include, among other populations, adults, emancipated minors, families with children, elderly persons, young adults aging out of the foster care system, individuals exiting from institutional settings, veterans, and homeless people.

  • GMP means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

  • GXP means any Point of Connection on the Grid:

  • Licensed clinical social worker means an individual who meets the licensed clinical social worker requirements established in KRS 335.100.