BACE Project Monitoring provides specialist services to banks and other funding institutions that are in the business of lending funds to developers for the purpose of procuring development projects.
Debt funding of this nature has inherent risks, as a result it is essential that funders receive sound, dependable professional advice throughout the development process in order to manage those risks.
BACE pride ourselves in possessing all the necessary expertise to cover the relevant aspects of any development project from inception to completion and in use.
We whole heartedly believe that the core Project and Cost Management techniques and processes we regularly utilise to deliver schemes, are inherently transferable and relevant to the Project Monitoring function.
The scope of our services can generally be categorised into two distinct phases. The first covering pre-commencement ‘Due diligence’ and the second, the construction phase.
- Carry out due diligence process to assess the viability of the scheme
- Carry out an audit to confirm if all matters are in order prior to allowing the scheme to progress towards being funded.
- Produce a pre-commencement tracker highlighting outstanding information
- Issue Initial Report with recommendations to the funder in order to allow a reasoned judgement to be made for the purposes of approving the proposed loan arrangement.
- Provide monthly or periodic report addressing key issues as deemed necessary (covering items such as projected Final Costs, commenting on project progress as regards both time and cost, comparing actual to budget, detailing the reasons for any variances and making appropriate recommendations in respect of our findings).
- Brief funder monthly on progress and expenditure throughout the construction phase including completion and handover procedures of the finished development.