Construction management is an open-book approach to contracting which allows for increased owner control and the potential to fast track the project schedule. A construction manager manages all phases of the construction process, from pre-construction through close-out and final completion, including constructability reviews, value engineering and estimating; cost control, document control and quality control; scheduling, logistics and sequencing the work; managing the bidding process including bid analysis and award; and managing trade contractors onsite, contract administration and project close-out.

The construction manager coordinates the construction process through its successive phases. The work includes preparation and bidding as well as management during construction and at completion, rather than beginning only when work starts on site.

The open-book arrangement and owner representation distinguish the approach described here. Construction auditing checks contractors' work, while project management identifies the liaison between the owner, design firms, and construction companies.