Under a Guaranteed Maximum Price(GMP) contract, what happens if the actual cost of the project is less than the guaranteed maximum price? a) The owner benefits from the savings unless there is an arrangement to split the savings with the contractor. b) The construction firm benefits from the savings unless there is an arrangement to split the savings with the contractor. c) The construction manager benefits from the savings unless there is an arrangement to split the savings with the contractor. d) The design firm benefits from the savings unless there is an arrangement to split the savings with the contractor. e)The sub-contractors benefit from the savings unless there is an arrangement to split the savings with the contractor.

Solved: Under a Guaranteed Maximum Price(GMP) contract, what happens if the a

Home
questions and answers
under a guaranteed maximum pricegmp contract what happens if the actua

Question

Under a Guaranteed Maximum Price(GMP) contract, what happens if the actual cost of the project is less than the guaranteed maximum price? a) The owner benefits from the savings unless there is an arrangement to split the savings with the contractor. b) The construction firm benefits from the savings unless there is an