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K. Project Management Services City of Sunny Isles Beach | Request for Qualifications No. 15-08-02 September 23, 2015 Page 37 the final subcontracted amount is reported into the FSR to compare that value against the associated budget from the final GMP estimate. The FSR will be updated and continuously shared with Sunny Isles, which creates a level of transparency and accountability for all project stakeholders by documenting and tracking every dollar committed throughout the duration of the project. When the comprehensive approach of a fully functioning FSR and “what-if” Trend Estimate Log is utilized, Hensel Phelps will be able to establish a collaborative process with Sunny Isles that will provide total cost management throughout the design process. Throughout our vast Construction Manager at Risk experience, we have seen value in engaging key subcontractors in a similar design-assist role as early as possible. Without removing the competitive nature from the selection process, we believe there can be a great value added to the project team in an early selection process. We look forward to discussing the advantages of this concept with Sunny Isles. Developed as an integral part of the preconstruction schedule, the Hensel Phelps Bid Package Schedule will be used in conjunction with the FSR for the subcontractor purchasing stage. This provides the framework for Hensel Phelps’ purchasing strategy and allows the team to prioritize the critical work items. This schedule will indicate the required dates to procure the various scopes of work and ensure adequate time is allowed for material procurement, fabrication and delivery. The development of the actual subcontractor bid packages will also be a collaborative process where we will encourage participation by Sunny Isles and the design team. In conjunction with the bid package development, Hensel Phelps will also implement a subcontractor pre-qualifying process to help ensure the solicited firms are qualified and have the financial viability to perform the scope of work contracted to them. 4. Procurement of Subcontractors Hensel Phelps has a proven track record in utilizing local subcontractors and vendors on our projects. In order to attract the best firms, provide fair opportunities and engage the local community, we will advertise through local avenues such as media, trade organizations, Construction News, Builders Exchange, Dodge, and our extensive database of already prequalified subcontractors and vendors. Hensel Phelps will work with Sunny Isles to ensure that the firms that have worked successfully on their facilities are aware of the upcoming contracting opportunities. Websites and printed media have their obvious merits, but nothing replaces meeting businesses and potential subcontractors face-to-face by holding meet and greet gatherings and one- on-one meetings. Before and during the procurement phase of the project, Hensel Phelps continually conducts business forums so that local contractors understand the scopes of work that will be issued in upcoming bid packages. During these outreach events, subcontractors complete a prequalification form to provide Hensel Phelps an understanding of their capabilities. This information gives us the ability to identity scopes of work that fit within a subcontractor’s ability. It also allows