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Construction Manager At Risk project
CMAR approach
A CMAR project, or Construction Manager At Risk project, is a construction delivery method that emphasizes collaboration and risk management. In this approach, a construction manager is hired by the project owner during the early stages of a project, typically during the design phase. The construction manager works in partnership with the owner and the design team to plan, estimate costs, and develop schedules.
HOW DOES THIS WORK?
The construction manager provides a GMP (Guaranteed Maximum Price), which is a ceiling on construction costs. This GMP serves as a financial safeguard for the owner, as it assures that the project will not exceed a certain cost. If actual construction costs surpass the GMP, the construction manager is responsible for covering the overages, thus bearing some financial risk.
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Benefits of CMAR Projects
CMAR projects offer numerous advantages.
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Enhanced Collaboration
ButtonThe early involvement of the construction manager fosters collaboration among all project stakeholders, leading to more effective problem-solving and decision-making.
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Cost Control
ButtonThe GMP sets a financial ceiling, assuring owners that costs won't exceed a certain point. This provides cost predictability and control.
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Risk Mitigation
ButtonThe construction manager assumes some financial risk, aligning their interests with those of the owner to ensure the project's success.
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Quality and Efficiency
ButtonThe collaborative approach often leads to a focus on project quality and efficiency, resulting in a better end product.
Coram Construction Company is a General Contractor based in Mt. Airy NC, specializing in Commercial Construction, Design-Build Projects, Educational and Government Construction Projects and More.