An owner selects the Progressive Design-Build (PDB) delivery method. A primary reason for this choice is the ability to defer the final price commitment. At what point in the PDB process is the Guaranteed Maximum Price (GMP) or Lump Sum price typically established?
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A
During the initial RFQ/RFP submission phase.
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B
After the design-build team is selected and the design has progressed significantly.
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C
Immediately upon contract award for Phase 1 services.
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D
Once the project reaches 100% construction completion.