During which phase should a CM conduct a local market cost survey to determine current market costs?

During which phase should a CM conduct a local market cost survey to determine current market costs?

• A. Pre-Design Phase
• B. Design Phase
• C. Construction Phase
• D. Procurement Phase

Answer: (A)

Gathering current price information for budgeting should happen as early as possible so decisions about scope, materials, and methods are grounded in reality. A local market cost survey during the pre-design phase provides the most current data on labor, materials, and equipment costs, which is essential for developing a credible rough order of magnitude budget and for guiding early design decisions. If you wait until later phases, costs can shift due to market changes, making budgets less reliable and increasing the risk of redesigns or scope cuts. By obtaining market costs upfront, the CM establishes a solid cost baseline that informs feasibility, budget targets, and value decisions as the project moves forward.

Gathering current price information for budgeting should happen as early as possible so decisions about scope, materials, and methods are grounded in reality. A local market cost survey during the pre-design phase provides the most current data on labor, materials, and equipment costs, which is essential for developing a credible rough order of magnitude budget and for guiding early design decisions. If you wait until later phases, costs can shift due to market changes, making budgets less reliable and increasing the risk of redesigns or scope cuts. By obtaining market costs upfront, the CM establishes a solid cost baseline that informs feasibility, budget targets, and value decisions as the project moves forward.