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construction management (CM)

A professional advisory services provided to the owner of a construction project with regard to virtually any aspect of the project, including financing, time and cost consequences of design and construction decisions, scheduling, contract negotiations and awards, purchase of critical materials and long-lead items, budgets, and monitoring performance of design and construction teams. Can be done on a stand-alone basis (agency CM) or in conjunction with the actual construction of the project (CM at risk). See also Agency construction management; Construction management at-risk.


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