Common use of GMP Open Book Review Process Clause in Contracts

GMP Open Book Review Process. The CM/GC shall meet with the Owner and EOR to review the GMP deliverables and its GMP Supporting Documents. The CM/GC shall make available to designate the Owner personnel including its Owner’s Representative, EOR, the complete cost estimate and supporting documents including, but not limited to books, calculations, take-offs, productivity assumptions, internal equipment rates, risk and contingency assumptions, exclusions, cost data in support of Construction General Conditions, quotations, allowances and provisions sums. The Owner will provide confidentiality assurances to the CM/GC as is necessary to allow the Owner to perform its construction price analysis and review. This “Open Book Process” will be repeated and required when the CM/GC submits its cost estimate, preliminary GMP, Updated GMP and Final GMP. If the Owner or its consultants discover any inconsistencies or inaccuracies in the information presented, the Owner will promptly notify the CM/GC, who shall make appropriate adjustments to the GMP proposal, its basis or both.

GMP Open Book Review Process. The CM/GC shall meet with the Owner and EOR to review the GMP deliverables and its GMP Supporting Documents. The CM/GC shall make available to designate the Owner personnel including its Owner, Owner’s Representative, and EOR, the complete cost estimate and supporting documents including, but not limited to books, calculations, take-offs, productivity assumptions, internal equipment rates, risk and contingency assumptions, exclusions, cost data in support of Construction General Conditions, quotations, allowances and provisions sums. The Owner will provide confidentiality assurances to the CM/GC as is necessary to allow the Owner to perform its construction price analysis and review. This “Open Book Process” will be repeated and required when the CM/GC submits its cost estimate, preliminary GMP, Updated GMP and Final GMP. If the Owner or its consultants discover any inconsistencies or inaccuracies in the information presented, the Owner will promptly notify the CM/GC, who shall make appropriate adjustments to the GMP proposal, its basis or both.