A. COMPREHENSIVE COST PLANNING AND COST MANAGEMENT SERVICES
Stage 5 - Contract Administration and Inspection
The purpose of this stage is to provide appropriate financial management and controls to monitor the actual cost aspects of the Project against the approved cost plan estimate (''approved budget'') and prepare and agree final accounts as the work proceeds.
- Examine and verify the pricing of bills of quantities including preparing same for incorporation into the signed contract.
- Prepare procurement documentation for Nominated and Selected subcontracts where such procurement documentation has not been dealt with in Stage 4.
- Examine and report on tenders for sub contract work, including financial comparisons with budget.
- Deal with the financial and contractual aspects of default by either party to a construction contract.
- To advice the Client on all upcoming tender and procurement packages and recommend suitable vendors / contractors.
- To review the Contract Agreement prepared by the Consultants/ Architects and to advice the Client on cost impacts/ variations/ extra items in future.
- To verify the Contractual documents like performance bonds, insurances etc.
- To advice the Client on potential contractual risks.