| Title |
CM at Risk Case Study on Guaranteed Maximum Price Contract - Focused on Cases for USA - |
| Authors |
Jeong, Jinhak ; Han, Jonghoon ; Lee, Joosung ; Ahn, Yonghan |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2019.20.3.022 |
| Keywords |
CM at Risk ; GMP ; CM Fee ; CM Contingency ; Allowance ; Saving Share |
| Abstract |
The purpose of this study is to derive basic data of the Guaranteed Maximum Price(GMP) process and to present specimens that can be used at the time of execution of CM at Risk project in South Korea. CM at Risk project is issued in South Korea, but the actual data is lack. On the other hand, CM at Risk project is universalized and the market of the CM at Risk is steadily growing. Because of that, in this study, The United States cases was selected as a sample. GMP consists of CM's fee, CM contingency, project direct cost, project indirect cost, allowance. GMP negotiations are performed before the end of design completion, and after 3 rounds of estimation comparison, preliminary GMP is confirmed. GMP can be multiple contract and it is useful for Procurement of long lead materials and early construction. If the actual cost is lower than expected GMP, sharing of the saving is an option since the conflict of interests between the client and the contractor can occur. |