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III. Estimating: (a) Develop detailed cost estimates which will include all direct and indirect components of work, including PM, its consultants, and the estimated contractor(s) cost for each project component. (b) Coordinate with its consultants and the City through the completion of design in revising cost estimates to reflect any changes in the documents. (c) During the term of the agreement, prior to establishment of the PBE, PM shall use its best efforts to control the cost of the Project and seek to maintain within the City's approved budget or any approved revisions thereto. IV. Project Schedule: (a) Within ten (10) business days after execution of this Agreement by the Parties, PM and its Project Team shall prepare a Critical Path Method ("CPM") Schedule for review and approval by the City. The schedule shall identify by phase all tasks required for completion of each project component. (b) The PM shall revise, maintain and ensure adherence to the Project CPM Schedule, as approved by the City. V. Value Engineering and Constructability Reviews: (a) Provide the technical management for the Project's re -design, if any is required, including the performance of formal architectural and engineering design revisions for each project component. (b) Provide the performance of constructability reviews and development of the various bid packages during the construction document phases and insuring that all City approved written design reviews comments and revisions are incorporated by its consultants into the construction bid sets. (c) Suggest refinements to the project components for the purpose of improving sequence of the work, budget reductions, and the constructability of the Project. Vl. Advisory Services: The PM shall assist and advise the Owner in the coordination and negotiations with University of California/Irvine, Santa Ana College, and other related parties.