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COST ESTIMATING & CONTROL <br />Terra will create a cost format from the current <br />design documents BKV has available. This format will <br />be utilized to determine if the current design is within <br />the project budget. <br />We will utilize our Revit° construction design <br />software, Bluebeam, Sage, Terra's cost database and <br />recent historical cost comparisons in establishing <br />the GMP and further estimates. <br />During Design <br />Cost control will begin during design with systematic <br />document review and accurate cost estimates. Upon <br />contract award, Terra will provide: <br />Thorough review of the documents throughout <br />the entire design phase of the project. <br />This will not only allow us to better perform <br />a constructability review, but also identify <br />any discrepancies amongst drawings and <br />specifications, or conflicts between trades. This <br />approach will also help eliminate future change <br />orders after construction begins. <br />Very detailed and thorough cost estimates <br />throughout design <br />During the DID phase, we will continually update the <br />estimate by updating our BIM model, completing <br />quantity takeoffs, utilizing our current market cost <br />data, reviewing current market trends and utilizing <br />the relationships that we have with local, metro and <br />national subcontractors and suppliers. Throughout <br />this process, Terra will also evaluate the impact <br />of the schedule related to costs, utility/service <br />shutdowns and alternate construction opportunities. <br />Estimating Examples (Construction Management) <br />At the end of the DID phase, Terra will establish and <br />present the Guaranteed Maximum Price (GMP) to the <br />City of Elk River, which will include a contingency <br />for those items yet to be defined or designed. Terra <br />will continue to evaluate and test the design in <br />comparison to the GMP to confirm that the project <br />stays on budget through CDs. This process will <br />ensure a successful bid opening, which has been the <br />case on all of our CM projects. <br />Throughout the design phase and while establishing the <br />GMP, Terra will work closely with the City of Elk River and <br />the design team in developing a project contingency <br />that is appropriate and specific to the project. This <br />contingency can be allocated for unforeseen conditions <br />or potential unknown conditions during the design period. <br />Terra will issue the City an updated contingency log on a <br />weekly basis and only use such contingency items after <br />receiving approval. <br />During Construction <br />Once construction begins, cost control would come <br />through our aggressive, but fair, change order <br />negotiations with the subcontractors. Our knowledge <br />of material costs, means, methods and current cost <br />trends will be a valuable resource to the project. <br />Terra will maintain an overall construction budget <br />and will continually monitor and update the budget <br />as changes occur. The reports we provide as part of our <br />overall budget tracking system include: <br />• Total Project Budget Summary <br />• Contract Summary Log <br />• Subcontractor Contract Summary Log <br />• Change Log <br />• Contingency Log <br />• Invoice/Cost Tracking Log <br />*Delivery method was design -bid -build. <br />CITY OF ELK RIVER I Elk River Public Safety Building Expansion and Elk River Fire Station #3 25 <br />