The CM summarizes total project costs in a final report, which should be reviewed and provided to the owner, in which phase?

The CM summarizes total project costs in a final report, which should be reviewed and provided to the owner, in which phase?

• A. Post Construction Phase
• B. Pre-Design Phase
• C. Design Phase
• D. Execution Phase

Answer: (A)

The final summary of total project costs is produced during the post-construction, or closeout, phase. This stage is when all financial activities are wrapped up: final invoices are paid, all change orders are reconciled, contingencies and allowances are settled, and the complete cost record is compiled. The CM assembles this final cost report to hand to the owner, providing a complete, verified picture of what the project actually cost once everything is completed and handed over. Earlier phases are focused on planning, design, and construction coordination, where costs are estimated, tracked, and controlled, but the definitive total is only finalized and delivered in closeout.

The final summary of total project costs is produced during the post-construction, or closeout, phase. This stage is when all financial activities are wrapped up: final invoices are paid, all change orders are reconciled, contingencies and allowances are settled, and the complete cost record is compiled. The CM assembles this final cost report to hand to the owner, providing a complete, verified picture of what the project actually cost once everything is completed and handed over.

Earlier phases are focused on planning, design, and construction coordination, where costs are estimated, tracked, and controlled, but the definitive total is only finalized and delivered in closeout.