Arkansas Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project is a legal contract that establishes the working relationship between the owner and the construction manager for a specific construction project in the state of Arkansas. This agreement outlines the roles, responsibilities, and obligations of both parties to ensure a successful completion of the project. Keywords: Arkansas Agreement, Owner, Construction Manager, Services, Overseeing, Construction Project, Legal contract, Working relationship, Roles, Responsibilities, Obligations, Successful completion. Different types of Arkansas Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project may include: 1. Lump-Sum Agreement: This type of agreement sets a fixed price for the construction project, and the construction manager is responsible for completing the project within the agreed-upon budget. Any cost overruns or savings fall on the construction manager. 2. Cost-Plus Agreement: In this agreement, the construction manager is reimbursed for the project costs, including direct expenses and a predetermined fee for overhead and profit. This type of agreement provides more flexibility in project changes and allows for a transparent cost breakdown. 3. Time and Material Agreement: This agreement reimburses the construction manager for the actual project costs, including labor, materials, and overhead, plus a percentage-based fee. It is commonly used when the project scope and duration are uncertain or if the owner needs more flexibility to make changes during the construction process. 4. Guaranteed Maximum Price (GMP) Agreement: With a GMP agreement, the construction manager provides a guaranteed maximum price for the construction project. If any savings are achieved during the construction, they are shared between the owner and the construction manager. However, if there are cost overruns, the construction manager covers them. 5. Design-Build Agreement: This type of agreement combines the roles of both the designer and the construction manager. The construction manager is responsible for overseeing the entire project, from design to construction. This integrated approach allows for efficient communication and coordination between different project phases. 6. Construction Manager at Risk (CAR) Agreement: In a CAR agreement, the construction manager assumes more risk and is involved early in the project's planning and design phases. They provide input on cost estimation, scheduling, and construct ability, aiming to deliver the project within predetermined criteria such as budget and schedule. By understanding the various types of Arkansas Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project, stakeholders can choose the most suitable agreement that aligns with the project's unique requirements, risk allocation, and budget constraints. Consulting with legal experts is advised to ensure compliance with the state's regulations and to protect the rights and interests of both parties involved.
Fta Construction Project Management Handbook
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FAQ
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project.
Construction management contract means a contract in which a party is retained by the owner to coordinate and administer contracts for construction services for the benefit of the owner, and may also include, if provided in the contract, the furnishing of construction services to the owner.
A construction manager can become a civil engineer with some additional education and training. While both careers involve overseeing construction projects, civil engineers work offsite, where they design the project's initial planning and blueprints and give directions to construction managers.
It is the owner's responsibility to provide complete and accurate relevant data, as may become necessary for correct installation of the work. The contractor is typically responsible for the correct layout and execution of the work.
'Contract' as the term specifies is an agreement between two parties in general. In project management, it's a formal agreement between a buyer and a seller (more often referred to as supplier). The agreement is made to procure goods and services required for the agreed project.
In any construction project there are three main parties involved: the owner or client, the management team, and the contractor. The building contractor plans and coordinates construction activities, and must complete the project within the established time and budget.
The role of the owner on a construction project is to develop the program for the building, define the scope of the project, create the budget, and provide the funding for the project.
Site managers are responsible for ensuring that a construction project is completed on time and within budget. Alternative job titles for site managers include construction manager, project manager and site agent. Site managers work on construction sites and work often begins just before construction.
The basic premise of a Construction Management (CM) Contract is that the Owner, referred to as the 'Principal' under the contract, enters into a contract with a Construction Manager. The Construction Manager is responsible for arranging and supervising the performance of work by sub-contractors.
Construction Manager responsibilities include:Overseeing and directing construction projects from conception to completion.Reviewing the project in-depth to schedule deliverables and estimate costs.Overseeing all onsite and offsite constructions to monitor compliance with building and safety regulations.