Edward Cooper Chartered Surveyors is able to offer to the Bank a comprehensive Development Monitoring service focussed on identifying key project risks at the earliest possible stage and on working with the project team in providing practical advice and solutions to mitigate those risks. The eight characteristics of our services are as follows:
- Technical Expertise – Our professional disciplines of cost and project management provide expertise in the key functions of procurement, project documentation, programme and cost control.
- Professional View – Our projects experience enables us to provide informed opinion, which can be benchmarked against current practice and procedure.
- Risk Control – Our extensive experience of procurement, cost control and project management enables us to identify key project risks at a very early stage.
- Solutions– We provide ‘best practice solutions’ and a ‘strategy to proceed’ with the Developer and Bank on any issues that arise during the life of the project.
- Early Warnings – We will provide early warnings of any potential issues found on site and provide advice on cost and programme implications.
- Relationships – Detailed understanding of the requirements of Banks and Funders, based on our experience, enables us to be proactive in the relationship between the Bank and the Borrower/Developer.
- Effective Reporting – Our reports are concise and logically structured, allowing the recipient to easily understand the current status of the project.
- Response Times – We understand the Bank’s general requirements to conclude our reports in a timely manner. We endeavour to provide a quick response turn-around, thus providing the Bank with more time to review our reports and process drawdowns.
Five Phases Of Our Service
With the overriding focus of ensuring that risks are identified, minimised and managed, our Development Monitoring service will run through five distinct phases:
- Initial Development ‘Health Check’, if required by the Funder before a loan facility is agreed.
- Overview Report, if required by the Bank to review the set up of the project before the first tranche of the loan facility (usually land loan) is drawn by the Borrower.
- Preparation of an Initial Report (Due Diligence), which is usually a conditions precedent to the first construction drawdown (second tranche) under the loan facility.
- Progress Monitoring during the construction phase of the project, including the preparation of periodic progress reports and financial drawdown recommendations.
- Completion Report, if required by the Bank after the project has been concluded.
- Health Care
Projects monitored range from £200,000 to £131m in construction value.
If you require any further details of our Development Monitoring service, please do not hesitate to contact either of our offices or email email@example.com