Construction and Technology Audit / Monitoring
Scope of Application Construction and Technology Audit / Monitoring:
- Engagement as a surveyor for the opening of a bank credit line for the project;
- Insurance of real estate facilities;
- Monitoring of project implementation involving an in-house technical client (owner's engineer) / construction supervision service within the group of companies;
- Management-level analysis of risks and weaknesses in a project that is falling behind schedule or deviating from the financial model.
Services Included Construction and Technology Audit / Monitoring:
- Assessing the availability and completeness of surveys and project documentation (at the "Project" and "Working Documentation" stages), and the current validity of the project documentation review;
- Monitoring the completion of physical work volumes and the quality of handed-over works;
- Analyzing construction budget execution, the alignment of the project budget with the financial model/business plan, and the financial and economic aspects of the project (financial model verification);
- Analyzing contracts and contractual relationships already concluded or planned for conclusion for the purposes of project implementation;
- Analyzing the project schedule and any delays;
- Providing recommendations on whether it is advisable to change the contracting organization / technical client (owner's engineer) service, alter the scope of work and technologies used, or the equipment and materials procured, based on the principle of maximizing resource efficiency while maintaining an appropriate level of work quality;
- Preparing recommendations for optimizing the management system;
- Assessing environmental and social risks and their impact on the project's economics. The objective of this service is an independent analysis of the facility's construction progress. Depending on the specific tasks set, such an audit/monitoring may include an independent assessment of the current state of the design and construction processes for the Facility, verification that the constructed structures comply with the project documentation, an evaluation of budget and schedule execution, and an analysis of construction management efficiency, followed by recommendations to the client. Such services can be provided either on a one-time basis (audit) or on a regular basis (monitoring/survey, quarterly or monthly).
Value for the Client:
- For the developer – engaging a world-class company with a recognized brand and reputation to oversee construction progress, thereby increasing the project's attractiveness to lenders and insurers.
- For the investor – ensuring independent control, analysis, and evaluation of construction progress in order to monitor the disbursement of funds and compliance with the construction schedule.
- For the insurer – monitoring construction progress in order to identify potential adverse deviations and factor them into the insurance premium.
