What does Construction Management mean? Read on to discover the definition & meaning of the term Construction Management - to help you better understand the language used in insurance policies.
A professional advisory services provided to the owner of a construction project with regard to virtually any aspect of the project, including financing, time and cost consequences of design and construction decisions, scheduling, contract negotiations and awards, purchase of critical materials and long-lead items, budgets, and monitoring performance of design and construction teams. Can be done on a stand-alone basis (agency CM) or in conjunction with the actual construction of the project (CM at risk).
We hope the you have a better understanding of the meaning of Construction Management.