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K. Project Management Services City of Sunny Isles Beach | Request for Qualifications No. 15-08-02 September 23, 2015 Page 43 Once a particular trend is identified by the Team it is added to the Trend Log. The Trend is then priced and evaluated with a decision being made to either - accept, reject, or table the trend for possible future consideration. When a trend is accepted, the overall budget is automatically updated and revisions to the affected scopes of work are modified. The Trend Log also has benefits beyond cost tracking, including: documenting accepted modifications to the design for implementation by the design team, and creating a detailed chronology of design alternatives that have been evaluated and detail as to why they were accepted, rejected or tabled. Sunny Isles will benefit from Trend Estimating as it provides for quick turn- around of parameter estimates for owner requested options and value engineering recommendations. This allows Sunny Isles to evaluate the scope and price of multiple options, and issue formal acceptance for the desired scope with confidence, as they will already have been briefed on the effect the decision will have on the overall project schedule and budget. The trend estimate process begins immediately after the Initial GMP estimate is established and continues up to the point of a final GMP. Hensel Phelps’ cost control role is to identify and forecast the cost impact of all design, construction and owner scope issues. Trend estimating and the trend log allow for Hensel Phelps to provide real time estimating to the project team and over-the-shoulder estimating with the design team. This ensures that cost is a design consideration. The search for further project scope definition requires: • Questioning the designers, consultants, owner, and end user(s). • Considering any special requirements of the owner or pre-established owner standards that may be above and beyond building codes or traditional design. • Assuring all systems that are included and anticipated have been budgeted. • Reviewing all governing agency requirements. • Researching similar past projects completed by Hensel Phelps, owner, architect, subcontractor partners, and/ or other team members. • Communicating the quality and quantity assumptions in the budget estimate throughout the design process, ensuring that this information is transmitted to the professionals actually developing the project specifications and construction drawings. When projecting the anticipated impact to the budget due to design progress, each subsystem or budget line item will be evaluated independently. Progress estimates will be performed at the prescribed design milestones (i.e. programming, schematic, design development, construction documents) and incrementally, as outlined to facilitate a fast-tracked approach. The identification and documentation of changing conditions with trend estimates and the trend estimate log provides the “history” of decisions made, while also recording assumptions and qualifications that may need to be referenced in the future.