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Design costs, permitting, land acquisition, and life-cycle costs may also be evaluated. In delivering pre-construction services, general contractors or construction managers may also be negotiating for project construction services. Often this may be accomplished by agreeing on a guaranteed maximum price (GMP) for the project. The firm then ...
In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
The systems, equipment, items, processes, modes, and sequences of operations to be tested by the CxP (contractors or others) should be detailed and identified in the design engineer's construction documents (drawings and specifications), the construction request for proposal (RFP), the contractors' bid submission, the commissioning ...
The construction stage begins with a pre-construction meeting brought together by the superintendent (on an American project). The pre-construction meeting is meant to make decisions dealing with work hours, material storage, quality control, and site access. The next step is to move everything onto the construction site and set it all up. [4]
Soft Cost is a construction industry term but more specifically a contractor accounting term for an expense item that is not considered direct construction cost. Soft costs include architectural, engineering, financing, and legal fees, and other pre- and post-construction expenses. [1]