A. COMPREHENSIVE COST PLANNING AND COST MANAGEMENT SERVICES
Stage 6 - Inspection and Monitoring
Verification of all Contractors running bills and preparation of payment certificates.Checking and measuring of executed quantities at sites on behalf of the Client.Prepare schedules of predicted cash flows, including those for professional fees.
- Verification of all Contractors running bills and preparation of payment certificates.
- Checking and measuring of executed quantities at sites on behalf of the Client.
- Prepare schedules of predicted cash flows, including those for professional fees.
- Attend any other meetings as convened by the Project Manager to suit the requirement of the project including presenting financial management reports apprising the Client of the financial implications of the project.
- Prepare all valuations for the issue of payment certificates including calculating, evaluating or verifying fluctuations in costs applicable to the contract.
- Prepare estimates of cost for proposed variations for Client decision-making. It should be noted that mandatory written approval is required from the Client prior to proceeding with or implementing any design requirement which exceeds the approved budget.
- Maintain and run financial management statement and monitoring against the approved budget and submit monthly project cost report, in a form approved by the Client, to the Client.
- Continually re-measure all technical and construction documentation as the work proceeds thereby establishing an on-going final account for the Project.
- Progressively prepare and agree the final account with the contractor and all sub- contractors.
- Measure, price and agree all variations for incorporation into the final account, including all provisional items of work anticipated as the work proceeds.
- Present the final account to the Client including any necessary reconciliations and explanations against the approved budget.
- Liaise, co-operate and provide necessary information to the Project Manager and other Consultants.
- Prepare and present a final account for tenant requirements to the Client.