Target GMP definition

Target GMP means the Project cost limitations established for a Deliverable Portion of Work during preconstruction.
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Examples of Target GMP in a sentence

  • If Construction Manager’s reconciled Schematic Design Documents cost estimate exceeds the applicable Target GMP, Construction Manager shall promptly furnish Owner Parties with Value Engineering proposals that will cause the estimate to meet or be less than that Target GMP.

  • Construction Manager and Owner Parties shall diligently work to reconcile questions, gaps, and disagreements in that estimate.] [Optional - depending on budget and complexity of project] [If Construction Manager’s Construction Drawings and Specifications cost estimate exceeds the applicable Target GMP, Construction Manager shall promptly furnish Owner Parties with Value Engineering proposals that will cause the estimate to meet or be less than that Target GMP.

  • In the event Construction Manager’s cost estimate exceeds its applicable Target GMP, Construction Manager shall meet with Owner Parties to discuss changes and review alternatives necessary to establish a mutually acceptable GMP.

  • Construction Manager shall assist Owner to refine its proposed budgets, including by generating and delivering to Owner Parties its Estimated Contract Sum, utilizing area, volume, or similar conceptual estimating techniques, and shall refine the Estimated Contract Sum based on Owner Parties’ changes during Project planning until Owner approves a Project budget and Owner Parties set each Target GMP.

  • Notwithstanding Construction Manager’s estimate exceeding the Target GMP, Owner may, in its sole discretion, accept or reject any proposed changes.

Related to Target GMP

  • GMP means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

  • Targets means pre-agreed values to be achieved at the end of the period in relation to the result indicators included under a specific objective;

  • Approved clinical trial means a phase I, phase II, phase III, or phase IV clinical trial that is conducted in relation to the prevention, detection, or treatment of cancer or other life-threatening disease or Condition and is described in any of the following:

  • medicinal product means any substance or combination of substances presented for treating or preventing disease in human beings or animals and any substance or combination of substances which may be administered to human beings or animals with a view to making a medical diagnosis or to restoring, correcting or modifying physiological functions in humans or in animals;