- Development Proforma Preparation
- Budget Reviews
- Progress Claim Reports
Project Monitoring enables lenders to take advantage of professional cost and project management expertise ensuring protection of their investment. We protect our client’s interests by identifying and advising on the risks associated with projects that are not under their direct control.
BDC provides project-monitoring services that facilitate the flow of information between lenders and developers with accurate, timely analysis and clear concise reporting. Project monitoring services usually entail a two-step process that starts with an initial project review prior to commencement on site and subsequent monitoring function throughout the construction period.
We provide certainty for lenders prior to the commencement of the project as our cost and project management expertise enables us to review proposals from a developer’s perspective. We understand how construction projects are delivered, the items that need to be considered and the pitfalls that developers face.
Throughout the construction period we provide a much needed interface between the lender and developer. We ensure that the developer is provided with the appropriate funds as the project progresses, yet ensure the lenders are not exposed to the problems inherent in development and construction. This approach to project monitoring is one of identifying issues early in the process and working with the parties involved to mitigate problems before they arise.
Monitoring services include:
- Ensuring that the project budget is reasonable, adequate and realistically allocated to the various hard and soft cost budget categories.
- Analysis and reporting on the existence and adequacy of supporting documentation, schedules, geotechnical reports, environmental recommendations, cash flows, contracts, bonds, insurances, etc.
- Site visits during construction to accurately assess the value of work in place and the cost to complete.