What does Construction Management At Risk mean? Read on to discover the definition & meaning of the term Construction Management At Risk - to help you better understand the language used in insurance policies.
Construction Management At Risk
The construction manager (CM) acts as consultant to the owner in the development and design phases, but as the equivalent of a general contractor during the construction phase. The CM at-risk is responsible for early coordination during the design phase, value engineering, and constructability reviews as well as the selection, scheduling, and sequencing of trade subcontractors. The term "at-risk" conveys that the CM under this method bears the risks of the general contractor, such as price escalation, delay, etc., that are not present in an agency CM situation.
We hope the you have a better understanding of the meaning of Construction Management At Risk.