Development Monitoring

Project or Development Monitoring is the process of protecting a clients interests from risks associated with a project which is not directly under their control.

Monitoring can be carried out on behalf of a range of Client types which can generally be categorised into the following;

  • A funding institution or institutional investor who will own the development upon completion
  • A Tenant or purchaser who has entered into an Agreement to Lease or purchase of the development upon completion.
  • A Bank or other development finance company who provide finance during the development.

 

What is involved?

The primary objective of the project monitoring role is to act as the ‘eyes and ears’ of the client throughout all stages of the development process including the pre construction stage.

When acting as a Project Monitoring Surveyor, we adopt a proactive rather than reactive approach by identifying and anticipating potential issues which may affect the delivery of the project. In this way we are able to provide an early warning to the client but also be of value to the developer, as they may be better placed in terms of decision making.

Typical issues that the project monitor would comment/advise on include;

  • Land and property acquisition
  • Statutory consents and legal matters
  • Construction agreements, appointments, contracts and warranties
  • Programme (in terms of the overall development and the construction phase)
  • Design (overall and detailed design)
  • On site construction quality

 

What are the benefits of instructing a Project Monitoring Surveyor?

The main advantages of instructing a monitoring surveyor include;

  • High level of risk management
  • More accurate financial management and reporting
  • Improved programme management
  • Increased quality management (throughout all stages including design and construction)