According to specific AIA standards, what does substantial completion signify?

Substantial completion, according to AIA standards, signifies that the owner can use the project as intended. This stage of a construction project indicates that most of the work has been completed, and any remaining minor tasks or deficiencies can be addressed without significantly hindering the owner’s use of the property. It allows the owner to occupy or utilize the building even if not every last detail is finalized, acknowledging that the project is viable for its intended purpose.

The other options do not accurately capture the essence of substantial completion. While it may involve completing most aspects of the project, it does not require all tasks to be finished. Moreover, meeting budget constraints is not a condition determined at the point of substantial completion, and a passing final inspection may occur later in the process once all items are addressed.