Construction Management-at-Risk (CM-at-Risk) is considered an alternative delivery method.  The "at-risk" construction manager provides advice and construction leadership on a project during the planning and design phases and provides construction leadership, contract management, direction, supervision, coordination and control of the work during the construction phase. While the owner generally will contract separately with the design professional, the construction manager contracts directly with the trade contractors. Under this scenario, the construction manager has control over the means and methods of construction, the management and safety of workers and delivery of the completed work consistent with the owner's cost, time and quality requirements.

The CM at-Risk is a delivery method which entails a commitment by the construction manager to deliver the project within a Guaranteed Maximum Price (GMP), in most cases. The construction manager acts as consultant to the owner in the development and design phases (often referred to as "Preconstruction Services"), but as the equivalent of a general contractor during the construction phase. When a construction manager is bound to a GMP, the most fundamental characteristic of the relationship is changed. In addition to acting in the owner's interest, the construction manager must manage and control construction costs to not exceed the GMP, which would be a financial hit to the CM.