Construction management at-risk

{
  "id": "MLC-T-INS-000915",
  "term": "Construction management at-risk",
  "field": "Insurance and risk management",
  "definition": "A project delivery method where a construction manager acts as a consultant to the owner during the design phase and then assumes the risk of delivering the project within a guaranteed maximum price (GMP). The CM is responsible for the means and methods of construction and holds the subcontracts. Professional liability insurance for CMs at-risk covers their professional negligence and often includes coverage for construction defects.",
  "subject": "Professional Liability",
  "url": "https://mlchart.com/terminology/insurance/construction-management-at-risk/"
}