Fund monitoring

General Control proposes an impartial and proactive fund monitoring service for providers of property development funding and clients investing in importantl projects.

 

Our service consists of answering two key questions:


  • "Can the project really be built within budget and within the requested financing?" and
  • "Can it be done on time?"

 

Our service is designed to minimizing risk, identify and solve potential problems before they occur. It aimes also to achieve time and cost saving. Our services cover all stages of a project while taking into account the existing reporting system for our customer.

 

In the construction industry, the major risks come from financial expenditures going out of control. Because we can offer you a continuous, complete and independent picture of ongoing construction projects, we can oversee not only the financial aspect but also the contractual aspect of a project by monitoring the actual delivery of what a funder is expecting.

 

Our mission is to act on behalf of the investor/lender (the fund or finance house which is actually funding the project) to make sure that a given construction project is progressing according to the agreed project programme and remains within the financial frame of reference.

 

Normally, our fund monitoring service takes place in two stages:

 

  • An initial report on the project (organization and controls) which is usually a condition to the drawdown of funds according to the financing agreement
  • Monitoring and periodical reporting on the progress of the project

 

A fund monitoring report may cover topics such as:

 

  • Construction cost and "earned value Managment" (EVM) reviews
  • Expenditure's checking. Invoice certification process monitoring
  • Cost summary, featuring all key budget items
  • Monitoring the contractor/client risk management reviews
  • Verification of whether the development programme is achievable and realistic, on time and on budget
  • Suitability of the proposed procurement process (system of delivery verification and payment approvals)
  • Competence of the client's and contractor's teams and their terms of engagement (surveyors, supervising engineers, cost controllers...)
  • A summary of priority actions for our client

 

 

We offer our clients a dedicated team of experts with proven experience in all  aspects of project appraisal and fund monitoring. General Control's surveyors are commercially minded construction experts familiar with all aspects of procurement, contracts, insurance and building design.