Development and Project Monitoring
Project Monitoring is distinct from both Project Management and Construction Monitoring and can be defined as protecting the client's needs by identifying and advising on the risks associated with acquiring an interest in a development that is not under the client’s control.
Before banks agree to fund property developments, they must have a good understanding of the construction aspects of the project in order to weigh up the risks that might impact on their loans. When a development is underway it must be carefully monitored, with regular site visits made in order to pick up any key issues as they arise. We advise when costs can be drawn down against the loan facility and on the adequacy of the remaining undrawn loan to cover the forecast cost to completion.