Cost Forecasts. In consultation with Owner and Architect, Construction Manager shall prepare an initial cost forecast setting forth in such manner and detail as Owner may require, all anticipated costs of the Work for: (1) all Trade Contractors performing Work or furnishing materials and/or equipment under Trade Contracts on a trade-by-trade basis; and (2) General Conditions Work. Construction Manager shall update the cost forecast monthly, or more frequently if requested by Owner, in consultation with Owner and Architect. Construction Manager shall submit the updates to Owner for its approval, and shall make such adjustments thereto, including adjustments by reason of approved Change Orders, Emergency Change Orders and Field Directives, as Owner may deem appropriate, to keep Owner currently informed as to the anticipated aggregate Costs of the Work and the ability of Construction Manager to complete the Work within the GMP. In addition, Construction Manager acknowledges that Owner will rely on Construction Manager for monthly cash flow analysis for the purpose of Owner’s financial planning. Construction Manager agrees that it will provide timely and accurate information, to the extent possible, given the state of the Design Documents at the time.
Appears in 2 contracts
Sources: Construction Management Agreement (New York Times Co), Construction Management Agreement (New York Times Co)