If you are a Funder are you:
- comfortable that robust contract documents are in place?
- confident the delivery team is fully aware of the risks, obligations and procedures in the contract?
- satisfied your client is acting in compliance with the contract?
- aware if the project is proceeding to cost and is on time with the correct drawdowns?
- satisfied with the provision of collateral warranties?
- confident that your position is protected in respect of project and contractual risks that may impact on successful delivery?
- satisfied records are available, should you need to become actively involved in the project?
- confident that everyone is fully prepared should a dispute arise?
Edge Consult provide:
- reports on proposed procurement and contractual arrangements;
- regular site visits to monitoring site progress with programme and completion date assessments;
- payment drawdown approvals, cashflow reviews and monitoring the cost to complete;
- developed and maintained risk registers.
- initial high level reviews of projects;
- in-depth analysis of problems and risks impacting the project;
- practical solutions to potential contractual problems;
- programme analysis to establish realistic completion dates;
- financial analysis to establish forecast outturn construction cost;
- dispute resolution including full adjudication services.
Edge acted as Fund Monitor for a private Trust on behalf of a wealthy private individual. The Trust was managed by a major banking group. At completion, the Trust’s Manager’s advised us:
“I think you’ve added great value to our project and I would like to thank you for your wise counsel and cool head! I would have no hesitation in working with you again and will keep you in mind for any future projects”.
A previous multi-million pound, central London refurbishment project for the same client had been disastrously delayed, resulting in huge financial claims against him. As a result, the Client sought our assistance. Edge Consult were able to demonstrate that the delays were due to the contractor. Therefore, all financial claims were expunged.
Following this success, the client appointed Edge Consult in an active Fund Monitoring role, providing advisory support on a second project. This benefitted not just our client, but also the entire project team, who openly appreciated our input.
On our appointment, the cost of proposed scheme was double the justifiable investment. We worked with the Fund and the rest of the team in proposing a significantly reduced scheme that still achieved the principle objectives.
There were many significant risks in the project, not least the extensive war damage repairs previously made to the property. Edge Consult proposed various mitigation measures such as a separate and thorough strip out contract, to allow the project team to complete the design process. These measures proved very successful, with the few unexpected matters discovered being comfortably covered by the project contingency. Our monitoring input continued through to completion of the project.
The project achieved the high quality aspired by the client and the project team. With our support, the consultants and contractor worked professionally together to ensure the project was completed on time and within the justifiable investment sum.