Financier Quantity Surveying

Pre finance high level advice and reporting specifically in regard to the proposed Development Budget and Programme.  These reports can often extend to consider and provide high level commentary regarding other specific project risk areas to provide early input and information to assist potential project financiers.

The Pre-Funding Initial Financiers Report is prepared to provide an independent and detailed review of a project, specifically addressing project construction risk, to assist Financiers in making informed funding decisions.

The report will include a review and commentary regarding the proposed Procurement Method and associated Contract Conditions, status and suitability of design, contract and construction Documentation, status and conditions of the required Authority Approvals, review of and recommendation in regard to the suitability of the Development Budget for the proposed works, development Programme and Cashflow review, commentary regarding the experience and suitability of the Development Team, as well as review of the project Insurances, Site Reports, the contents of any Valuation Reports provided compared to the project documentation provided for our review, Pre-Sales and Pre-Lease Agreement inclusions and exclusions and any applicable sunset dates, etc as necessary and applicable.  A Site Inspection is undertaken during the preparation of the Pre-Funding Initial Financiers Report in order to consider the site specific conditions and in relation to the project documentation, etc provided for the preparation of this report.

The scope of the Pre-Funding Initial Financiers Report may extend further for specific Procurement or delivery strategies to include a review of Trade Budget and Trade Letting status and information, trade Sub-contract Agreements, administration process and similar.

Progress Assessment Reporting is undertaken on an agreed, regular basis during the construction phase of a development.  These reports include an assessment of the Value of Work Completed at the end of each month for the purpose of progress payments to the Contractor, and the Drawdown of the broader Development budget cost centres from the Finance facility, and reporting against project Documentation, updated Authority Approval status, review of the Forecast Final Cost and Cost to Complete for the development, review of progress against the development Programme and Cashflow, monitoring status of project Insurances, etc all as outlined in the selected Financier’s Professional services brief for Quantity Surveyors.  A Site Inspection is undertaken for each of the Progress Assessment Reports.

Where requested the Progress Assessment Reporting role may extend to include the attendance at Project Control Group Meetings to assist in the preparation of the Progress Assessment Reporting for the project as well as the ongoing monitoring of Trade Budget and Trade Letting status and information, trade Sub-contract Agreements, etc for specific Procurement or delivery strategies.

Mitchell Brandtman can provide tailored quantity surveying and risk reporting services, where required, to assist Financiers and their clients with specific project requirements and challenges.  These services may include:

• Detailed and independent reviews of contract Variations, Prime Cost, Provisional Sum and other Contract Cost adjustments
• Detailed and independent reviews of Extension of Time claims
• Project peer reviews and reporting
• Tailored services for lower-value construction loans and staged payment scenarios where the Financier needs a more high-level overview of the project and its progress

Mitchell Brandtman can provide of an independent review of difficult and distressed project situations to provide reporting and recommendations that will assist in the planning for and completion of distressed projects.

The scope of this role and reporting can range from a reality check and an experienced hand to get through a difficult period, to a full audit completed by a dedicated team of experts tasked with providing proactive, comprehensive analysis, advice and solutions for distressed project situations.  This reporting and role, will be tailored to specific project situations however might include:

• A review of the Procurement and Delivery strategies to complete the works
• Contract advice for completion agreements
• A detailed Cost to Complete estimate for the works
• Validation of recovery estimates, Budgets and Programming
• Establishing monitoring strategies and thresholds for completion including status of required Authority Approvals, Pre-Sales and Lease Agreements, etc