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According toCMAA Time Managementstandards,floatis defined as the amount of time an activity can be delayed without affecting the overall project completion date. The SOP specifies: "Float is a shared resource belonging to the project as a whole. It is not owned exclusively by any single party - owner, contractor, or construction manager." This principle ensures fair schedule management and prevents disputes. Both the CM and the contractor should work collaboratively to optimize float use for the benefit of the entire project. Contract documents (e. g., general conditions) may further define float management policies, but unless specified otherwise, float is treated asa project resource, not the property of any one participant. Therefore, the correct answer isC. Project. References: CMAA Construction Management Standards of Practice, 2010 Edition, Chapter 5 - Time Management, Section: "Float Ownership." CMAA CM Study Guide, Time Management Domain, Objective 5.3: "Manage schedule float as a shared project resource."
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