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What is a Project Auditing?
A service for bankers and investors in property
Bank
lending to property is on the increase more than at any
time in the last 20 years; interest rates are likely to
remain stable for the foreseeable future; Institutions are
getting more involved in property; there is a potential
over supply of space in most commercial sectors; and there
is concern over the high gearing of many of the major developer
/ traders.
Mouawad
Head Quarters, Lebanon |
It is essential that those funders of, or investors in,
property developments who have a financial interest in the
success of a project but who do not take an active role
in its implementation should have confidence in the quality
of their investment. This can only be achieved by securing
the advice of an independent specialist, both for an initial
review of the parameters upon which the viability of the
project was established and for the on-going monitoring
of these parameters during construction.
The critical factors in the success of any project include
construction costs, programme, quality, management procedures
and development value. An incorrect assumption or a subsequent
lack of control in any one of these parameters can turn
the bottom line red.
D.G. Jones & Partners is able to advise on all these
aspects of a development through our range of in-house disciplines
and our extensive experience in the market. The demands
of every project are of course different and in each case
we establish with our Client, at the outset, the extent
of our brief.
Houses
of Parliament, Australia |
Construction
Financial Services
Our commercial specialists have a deep knowledge, born of
experience, of the development market and we pride ourselves
in performing not just a passive monitoring role but a responsive,
predictive role extending where required to advice on corrective
measures.
The role of the Project Auditor is more than ever a very
important one. D.G. Jones & Partners are pleased to
be able to offer our Clients a ONE STEP SERVICE to safeguard
their interests and contribute to the achievement of the
ultimate goal - A PROFITABLE DEVELOPMENT.
Our
Services would normally include some or all of the following:
* Initial Review
* Anticipated Construction
Costs
* Development Programme
* Specification
* Proposed Contractual Procedures
* Anticipated Gross Development
Value
Monitoring
and Advice During Construction:
* Construction Cost Control
* Loan drawdowns
* Pre-commencement and Construction
Programmes
* Site Inspection and Progress
* Conformity to Development
Specification
* On-going Management Procedures
* Factors affecting final Gross
Development Value
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