Project Audit and Budget Management

2019-September-23

Category:

Project Audit, Funding agencies, investors and joint venture partners are increasingly recognising the extent of the risk posed by the plethora of planning, environmental, industrial, technical, commercial, community and political risk factors impacting major construction projects.

VG Project Group possesses the necessary technical, professional and practical experience to effectively manage your risks.

The key areas where our project audit and development loan monitoring services can benefit include:

  • analysing the risk of a development and advising on the method of implementation most advantageous to investors
  • conducting risk assessment workshops to identify and document the likely risks for a project and recording actions for risk mitigation
  • establishing communication plans to confirm that design, cost, quality and programme conform with project objectives
  • certification of monthly progress claims
  • monitoring that performance testing, statutory authority certification and defects inspections are properly conducted
  • obtaining warranties and service agreements at practical completion
  • identifying and capitalising on opportunities for the project
  • budget management

VG Project Group budget management services provide our clients with a high level of confidence for total project completion costs. Our advanced cost monitoring systems provide exceptional control, enabling accurate project cost control and forecasting. Our budget management system has three major components:

  • working closely with the quantity surveyor or cost planner to identify a realistic budget and cost plan
  • tracking actual costs versus the original budget to quickly detect potential cost overruns
  • preparing forward forecasts of any potential additional costs that may impact on the total project budget