Cost and Commercial Management

A Capital budget is key in supporting development optimisation and viability hence we understand that management of costs is paramount for our clients. We use our deep knowledge and experience to provide realistic and accurate assessments of project and development costs from inception to project completion.

Not only do we provide cost advise but we go a step further to understand what value means to our client’s objectives we take this into consideration when costing, advising, and delivering cost and financial information to support our clients to make informed project and organisational developments that align with their business objectives.

We provide the following:

  • Cost Estimating – Initial / Feasibility stage
  • General Cost Planning as the design develops
  • Development of the procurement strategy including the tendering and appointment of the main contractor.
  • Cost and Financial Reporting throughout the project lifecycle
  • Progress reports & Valuations on Site – to assess the value of work done in line with the defined programme and reporting stages

Procurement advisory

Understanding the most advantageous route to procure and deliver projects is of importance to us. We review procurement activities on behalf of our clients to discover, evaluate and engage suppliers to source appropriate services and products.

By looking at ways to improve the sourcing cost of services and products we review and enhance engagement and contracting terms & conditions including the supplier relationship management to support the interaction with subconsultants/ outsourced contracts.

We achieve this by:

  • Advising on the most appropriate procurement route for your project considering Cost, Quality, Time, and Sustainability
  • Supporting the sourcing of appropriate service providers, Contractors, and suppliers in line with the procurement route and project risk profile
  • Managing the tender process including preparation of scope of service and tender documents, review and analysis of tenders and recommendation of suitable suppliers
  • Recommendation of the appropriate contract in line with the procurement route

Employers Agent / Contract Administration

Communication and Coordination is King! We understand that each client is different and as such we tailor our services to suit our client’s experience, confidence and capability aligned to their project objectives.

Through our management of developments, we understand that clear lines of communication, proactive planning, defining deliverables and timescales are paramount in the successful delivery of the projects we work on.

We work closely with our clients to drive projects forward in line with contractual obligations whilst maintaining effective, concise, and transparent communication throughout the project delivery team.

How do we do this:

  •  Reviewing Construction documents and workmanship to ensure they executed in line with design specifications
  • Managing changes / variations to planned works where required
  • Ensure adherence to regulations, code and legislative requirements
  • Provide support in the sourcing of materials and suppliers

Fund Monitoring (Funder/ Developer)

Our fund monitoring service incorporates services on behalf of Funders, Investors to report on the status, suitability, and possible development risk. Our advisory and monitoring reports aim to minimise risk, provide confidence on project viability. Our services are defined through the project lifecycle to ensure effective risk management and confidence to funders and developers.

Pre-construction Phase

Review Drawings & Specifications, procurement and contract strategy, method of procurement, tender process, and the suitability of the proposed contractor.

Assess the adequacy of construction budgets and cashflows highlighting areas of cost risk. Review the structuring and management of the budget and contingency, the appointments of the developer’s professional team, including the provision of warranties and the appropriate level of professional indemnity insurance. 

Ensure that statutory consents like planning, building regulations, party wall awards, rights of light and any other relevant consents affecting the development are in place.

Construction Phase

Review: Initial, Interim and Final project monitoring report to the funder during the construction phase monitoring progress through to and including practical completion.

Review and highlight any project risks which the funder should be made aware of, and any consequential actions required by the borrower, professional team, or funder.

Precious is dedicated, intellectual and meets and exceeds clients expectations. Maintains a great work ethic and a credit to our profession in our industry. Very highly recommended.

Ian Robinson