2021-02-23_PERMIT FILE - M2021014 (3)

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L/VI.UJiyt i p ivuiu J iu.uuuu 1 L or-I.LOC-4L I U-MJIJU-UDDr i I jourzm%, 1 and the availability of DBEs capable of performing such work. The Contract Goal, if determined by the Principal Representative as required, will be the percentage stated in the invitation for CM/GC Services or in the Contract documents. 2.14 "Contract Sum" shall be defined as provided in Section 9.6.1, Construction Agreed Price. The State's financial obligation is limited by this amount, and the Contractor shall perform no Work which will result in a contract value which exceeds the Contract Sum. Any modification or amendment to the terms and conditions of this Agreement must be in writing, executed in accordance with the State Fiscal Rules, and be approved by the Controller or his designee. 2.15 "Contractor" means the individual,joint venture, partnership, or corporation which has, been selected by the Principal Representative by virtue of its in-house capabilities of budgeting, cost estimating, management and labor relations personnel, the required technical and professional services expertise to work with the Principal Representative and the Design Consultant in order to help formulate the Project Budget, furnish the Design Consultant with the information on construction technology and market conditions to help assure that the Project design stays within the Project Budget, Fixed Limit of Construction Cost, and aggregate of LLTP CAPs and Construction CAPs (except for changes made pursuant to Article 10) and manage the procurement effort. 2.16 "Contractor's CM/GC Preconstruction Fee" means the amount to be paid by the Principal Representative to the Contractor for Work performed by Contractor through the Preconstruction Phase which is equal to the amount of the fees and costs for administrative costs, overhead and profit, including, but not limited to, all resources needed to perform the duties described in Exhibit A; and Exhibit C - Scoring Form 13-3: CM/GC Price Proposal, and Form C-1 CM/GC Management Price Percentage. 2.17 "Cost Model" means the open and transparent model that the Contractor develops and uses through the Preconstruction Phase so that estimates and assumptions are communicated to the Principal Representative, Design Consultant and Independent Cost Estimator. Contractor must use a Cost Model reasonably consistent in approach with that provided for the Bid Item Pricing in the Contractor's Price Proposal documents unless otherwise agreed to by the Principal Representative. Although the Bid Item Pricing proposal addressed only the bid items listed in the RFP, the accepted estimating model shall be applied to the entire Project during the CM/GC design process to arrive at the OPCCs and Construction CAP. During Project execution, the Contractor shall use the accepted version of the Contractor's proposed approach to price and estimating model. 2.18 "Critical Path Method" or "CPM" means a mathematically based algorithm for scheduling a set of project activities, which is an important tool for effective project management. It involves constructing a model of the project including a list of all activities required to complete the project (typically categorized within a work breakdown structure), the time (duration)that each activity will take to completion, and the dependencies between the activities. Using these values, CPM calculates the longest path of planned activities to the end of the project, and the earliest and latest that each activity can start and finish without making the project longer. This process determines which activities are"critical" (i.e., on the longest path)and which have"total float" (i.e., can be delayed without making the project longer). 2.19 "Date of Completion" is the date certified by the Principal Representative when the Work, or designated portion thereof, is complete in accordance with the Contract Documents. 2.20 "Day" means calendar day unless specifically designated otherwise. 2.21 "DBE" means a business currently certified as a "Disadvantaged Business Enterprise" by the Colorado Unified Certification Program. Page 6 of 75