ADA: Americans with Disabilities Act, an act of Congress confirming the civil rights of people with disabilities, including accessibility to buildings and programs open to the public.
AIA: American Institute of Architects, a professional association that has, among other things, developed the most widely used standards for construction contracts and associated documents.
AVP: Associate Vice President.
Best Value: A selection process in which the award is
based on evaluation of a combination of price and performance. Award is
made to the proposal with the greatest overall value under the
specified selection criteria.
Benchmarking: The process of comparing Design phase cost estimates or contract prices with adjusted unit costs of comparable projects to serve as a check of a project’s scope and budget.
CAD: Computer-Aided Drafting, software such as AutoCAD that is used to assist in the design of buildings and facilities.
Capital Budget: The section of the six-year capital plan that covers the upcoming fiscal year, itemizing major projects and creating allocations for groups of mid-sized projects, that is approved by the Regents of the University of Minnesota.
Capital Plan, Six-Year: A list of all capital needs that are anticipated over the next six years.
CD: Construction Documents, the third of three sub-phases of the Design phase.
CM: Construction Manager, a contracting firm selected to provide advice during design and then construct the project based on fully completed drawings and specifications prepared by an architect hired by the University.
CO: Certificate of Occupancy, issued by the Code Official to permit occupancy of the facility when all construction work is complete.
Constructability: The degree of ease or difficulty with which a detail or design can be constructed using standard materials and techniques.
Contingency: An amount of money reserved by the project manager for unforeseen changes in the work.
D-B: Design-Build, a delivery method in which a contractor partners with design professionals to complete both design and construction for a fixed price, based on a program description and performance specification.
DD: Design Development, the second of three sub-phases of the Design phase.
Estimated Cost to Complete: The current estimate of the remaining costs to be incurred on a project at a specific point in time.
Estimated Final Cost: The anticipated cost of a project or project element when it is complete. The sum of the cost to date and the estimated cost to complete.
Funding Authority: The individual responsible for administering or allocating a funding source.
GC: General Contractor; a contracting firm selected to construct a project.
G/M/E: General, Mechanical, Electrical costs of construction. This is the most basic part of the cost of construction for any project. To this are added costs for other components of the project to create the Project Budget.
GMP: Guaranteed Maximum Price, a figure, based on competitive subcontract bids, that can be provided by a construction manager or design builder in which the firm guarantees that the cost of the work will not exceed a specified amount for an agreed upon scope.
HVAC: Heating, ventilation, and air conditioning.
Long-Lead Items: The identification given to material and equipment having an extended delivery time and which may be considered for early procurement and purchase. Items which would be delivered too late for timely installation if their procurement or purchase were included as part of the procurement for the entire contract or project.
PIPS: Performance Information Procurement System (PIPS)
is an information
based procurement system for selecting high-performing contractors and
for minimizing the owner/contracting organization's risk. PIPS is
foundational to the Best-Value selection process.
Pre-Design: Preliminary Design, the first of three sub-phases of the Design phase.
PM: Project Manager, a professional assigned by CPPM to coordinate the project, maintain the schedule and budget, direct the services performed by architects and contractors, resolve conflicts, and maintain proper communication among all stakeholders and team members.
Project: A significant new construction or remodeling effort that requires; the services of an Architect or Engineer (design), significant coordination of budgets and schedules (project management), and the involvement of several internal University units (multiple stakeholders).
Project Budget: The sum or target figure established to cover all the owner's costs of the project, including: the cost of the contractor plus other costs such as hazardous material abatement, design consultant fees, CPPM management fees, operations start up costs, furnishings and equipment, testing, and a project contingency.
Project Cost: The actual cost of the entire project.
Punch list: A list of minor deficiencies remaining when construction is determined to be substantially complete and the site is returned back to the control of the University.
RFP: Request for Proposal, a document requesting a formal proposal for services and associated fees from the an architect, engineer, construction manager or contractor used to select the best qualified provider.
RFQ: Request for Qualifications, a document requesting a description of the respondent’s qualifications that will assist in narrowing down a large group of potential service providers to a smaller list from whom proposals will be solicited via an RFP.
Schedule of Values: A list of basic contract segments in both labor and material, where each line item consists of a description of a portion of work and a related cost and the sum of the lines of the contract equals the total contract price. Generally used to determine progress payments to contractor(s).
Substantial Completion: The date, certified by the design professional or CM or both, that a contractor has reached that stage of completion when the owner accepts use of the facility for its intended purposes, even though all work is not completed.
Stakeholders: All University entities having a significant stake in the project, including the requesting department, funding authority, and CPPM.
VE: Value Engineering, a process of reviewing all aspects of a design to re-examine all assumptions and minimize the life-cycle costs of the project. |
