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GlossaryLast reviewed May 2026

Delivery & contracts

Design-Build (DB) — one entity handles both design and construction; single accountability. Design-Bid-Build (DBB) — design fully, then bid, then build; three separate relationships, sequential. CMAR

  • Design-Build (DB) — one entity handles both design and construction; single accountability.
  • Design-Bid-Build (DBB) — design fully, then bid, then build; three separate relationships, sequential.
  • CMAR / CM@R (Construction Manager at Risk) — CM engaged early to advise, then holds construction at a guaranteed max price.
  • IPD (Integrated Project Delivery) — owner, designer, builder share one contract and risk/reward.
  • Design-Build-Finance — design-build plus integrated project financing (Pereff's model).
  • Lump sum / stipulated sum — one fixed price for a defined scope.
  • GMP (Guaranteed Maximum Price) — a cost cap the contractor guarantees; under-runs often shared.
  • Cost-plus — owner pays actual cost plus a fee.
  • T&M (Time & Materials) — pay for labor + materials + markup.

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