on local market conditions, such as regional building booms and other potential major
projects with comparable construction schedules. These updated Market Surveys are
submitted as required by the Tasking Matrix (Table 3 in Chapter 3).
At the 90% and 100% construction documents phases, the survey process intensifies, and all
data gathered is reported. The report clearly depicts the likely bidding market, other projects
likely to be on the market, and how hungry the market is likely to be at the scheduled time
of bid. The final estimate must incorporate the survey's conclusions and reflect the current
bidding climate, including information on the expected number of bidders for general and
subcontractors, the amount of competition among contractors, and other conditions that
may have an impact on the construction project.
Note that in this phase the project's construction manager as agent will be promoting the
project within the construction industry to develop interest for good competition.
prospectus product / deliverable P-120