Project Auditing

Understanding the risks associated with development projects requires a considerable investment in time and resources and is a pre-requisite to a decision to purchase or fund.

We provide a clear and concise independent assessment of project risks including costs, time and quality, plus practical advice on resolving deficiencies. Our long and proven track record has been established by working with

  • Funders and financial institutions providing project finance
  • Owner occupiers acquiring new properties or companies
  • Developers considering the purchase of property or sites

Our project auditing service is tailored to individual client requirements and encompasses any construction-related activity. The service may involve either or both initial appraisals and ongoing project monitoring.

Initial Appraisal
Understanding the development risks is an essential part of the decision to make available a loan facility. Our initial appraisal reviews the project and considers the processes already enacted on the project.

Services May Include

  • Review of the project and other budget costings for the development
  • Analysis of the risks and proposals for their management
  • Examination of the programming and procurement documentation for the design and construction of the project and advice on its suitability and adequacy
  • Review of the life cycle maintenance plan
  • Review of the procurement strategy and advice on its suitability
  • Review and report on the suitability of the consultants and their appointments
  • Comment on the impact of site constraints including geotechnical and environmental conditions
  • Comment on the availability and proposals for infrastructure
  • Review of design proposals including specifications
  • Review development control procedures and their adequacy for the project
  • Comments on planning, building regulations and other statutory consents
  • Review of funding development and leasing agreements
  • Advice on warranties and insurances

Monthly Reports
During construction we provide a comprehensive reporting service. Reports concerning project progress may include

  • Financial review of expenditure and projected out-turn costs and cash flows
  • Reviewing actual progress against programme and reporting on possible delays
  • Update on Planning and statutory consents as appropriate
  • Overview the performance of the developer, consultants and contractor for compliance with their respective obligations and duties
  • Overview any requirements to pay additional costs to the contractor and comment on the likely value and impact on the project
  • Survey existing structures and services, identify immediate and long-term costs of ownership Identify any factors affecting or likely to affect the project causing overrun or delays, reporting on proposals to eradicate or mitigate delays and costs arising from ann such events

As part of our service we also make recommendations on the draw-down of funds against the value of work completed. We also monitor and report on other costs such as professional fees, legal fees, marketing, letting and development costs.