The construction manager (CM) acts as consultant to the owner in the
development and design phases, but as the equivalent of a general contractor
during the construction phase. The CM at-risk is responsible for early
coordination during the design phase, value engineering, and constructability
reviews as well as the selection, scheduling, and sequencing of trade
subcontractors. The term "at-risk" conveys that the CM under this
method bears the risks of the general contractor, such as price escalation,
delay, etc., that are not present in an agency CM situation.