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CONTROL OF PROJECT BUDGET H&H employs proactive project management tools and methods to control the design and construction budgets. The RFP Addendum #1 provided the estimated budgets below: • Total Budget: $13,050,000 • Design Budget: $1,995,000 • Construction Budget (Total Budget - Design Budget): $11,055,000 Design Budget Critical to controlling the design budget is a well-developed scope. H&H will provide the City with a breakdown of the tasks to complete the design and contract documents for the Bridge Park in the City or FDOT format. The need for each task will transparently discussed with the City. With an agreed upon scope and corresponding effort, we will move forward with proactively tracking the budget. H&H uses the Earned Value (EV) approach to controlling the design budget. The image to the right shows a generic EV curve with the key features labelled. The EV chart is a living document that is updated monthly for internal audits and as a justification for invoicing limits. Construction Budget The FDOT process includes the development of a Long-Range Estimate (LRE) of construction cost. We will update the LRE through the 60%/Constructability submittal after which we will provide an Engineer’s Estimate of cost. We will assign percentages of potential variation of each pay item from the baseline estimate. This approach will provide a transparent means to determine a rational construction cost contingency. In addition to the LRE risk management process, we use the following strategies to minimize changes to the project cost during construction: • Accurate Unit Cost Estimation - We will engage our contractor industry partners to get updated unit costs for the Bridge Park project that factors in the site conditions and quantities and not just rely on statewide averages. • Integrated Design and Construction Approach - We mitigate construction cost risk by integrating our design approach into the construction and maintenance of traffic approaches. Examples of this integration are the spine and rib erection approaches in this proposal. Sample Earned Value Chart D-36