From the FHWA:
Essentially design-build, yes, but it's not supposed to be cost-plus, which is where it went all pear-after-Gallagher-has-been-through-it shaped.
https://www.youtube.com/watch?v=ErppAlOIGQE
http://www.fhwa.dot.gov/construction/cqit/cm.cfmConstruction Manager / General Contractor Project Delivery
The Construction Manager / General Contractor (CM/GC) project delivery method allows an owner to engage a construction manager during the design process to provide constructability input. The Construction Manager is generally selected on the basis of qualifications, past experience or a best-value basis. During the design phase, the construction manager provides input regarding scheduling, pricing, phasing and other input that helps the owner design a more constructible project. At approximately an average of 60% to 90% design completion, the owner and the construction manager negotiate a 'guaranteed maximum price' for the construction of the project based on the defined scope and schedule. If this price is acceptable to both parties, they execute a contract for construction services, and the construction manager becomes the general contractor. The CM/GC delivery method is also called the Construction Manager at-Risk (CMR) method by state law in some states.
Essentially design-build, yes, but it's not supposed to be cost-plus, which is where it went all pear-after-Gallagher-has-been-through-it shaped.
https://www.youtube.com/watch?v=ErppAlOIGQE