Construction Management At Risk (CMAR)
Construction Management at Risk (CMAR) is a qualifications-based selection process; it provides construction management services for a project throughout both the preconstruction and construction phases.
These services may include preparation and coordination of bid packages, scheduling, cost control, value engineering, systems, materials, life cycle evaluation, and construction administration.
Guaranteed Maximum Price
This is the same construction management system previously discussed, with the exception that the preconstruction and maximum cost portion is added. The general contractor assumes the financial risk of the project earlier in the design process, in the form of a Guaranteed Maximum Price for the project.
Shorter Process with Greater Assurances
This process shortens the timeline for design, bid, and build while assuring the owner at an earlier stage of the capital cost they will incur for the completion of the project construction. The preconstruction stage is critical in this CMAR process because the early contractual involvement of the general contractor minimizes future construction issues, and exposes areas where contingencies should be established controlling future cost escalations and change orders.
This process integrates the owner, architect, and contractor at the earliest possible stage in the project while still allowing the owner to have control of each phase of the development.