Tennessee § 54-1-502 - Part definitions.

§ 54-1-502. Part definitions.

As used in this part: “Authorized contingency” means the contingency prepared and submitted by the CM/GC as part of the GMP, which is designed to cover costs that may result from incomplete design, unforeseen and unpredictable conditions, or uncertainties within the defined project scope which a prudent CM/GC would not have reasonably detected or anticipated during the discharge of CM/GC's pre-construction duties; “Commissioner” means the commissioner of transportation; “Construction manager/general contractor” or “CM/GC” means a business firm, separate from the project designer, that is able to provide pre-construction services during the design and development phase of a project; “Construction manager/general contractor method” or “CM/GC method” means a project delivery method in which a construction manager is procured to provide pre-construction services and the CM/GC may subsequently construct the project, or any part of the project, if the department and the firm reach agreement on a guaranteed maximum price; “Department” means the department of transportation; “Guaranteed maximum price” or “GMP” means the total dollar amount within which the CM/GC commits to complete construction of the project, including the CM/GC's direct costs, overhead, and profit, plus any authorized contingency. The GMP may be supplemented at a later date to cover additional costs arising from changes in the scope of work as the department may subsequently direct in writing; and “Pre-construction services” may include, but not be limited to, cost estimates, schedule analysis, sequencing of work, risk identification and mitigation, constructability reviews, evaluation of alternative construction options, assistance with various permits, coordination with public or private utility service providers, communication with third-party stakeholders and/or the public, development of a GMP, and any directly related or similar services as may be necessary or useful to assist the department with the design and development of a project to the construction phase. Acts 2013, ch. 366, § 1. Effective Dates. Acts 2013, ch. 366, § 2. July 1, 2014; provided, that, for the purpose of promulgating rules and regulations, the act took effect May 13, 2013.