Construction
Companies implementing growth plans or executing large capital projects frequently encounter surprises in the form of cost overruns and schedule delays. Major capital projects are often complicated, fast-paced, and carried out in an environment prone to fraud, uncertainty, waste and abuse. Stakeholders are demanding transparency, predictability and accountability for project results to ensure that administrators and boards are empowered to make prudent capital decisions. WBG Construction Advisory assists clients in identifying and mitigating project risks throughout the project life cycle. Our methodology encompasses both “Doing the right project” and “Doing the project right.” During development, WBG Advisory provides owners with objective feedback to assist decision making for the appraisal, selection, and establishment of programs and projects. During execution, we provide real-time, objective feedback to owners and contractors to facilitate proactive decision making to mitigate cost, schedule, quality and other project risks. Our services include construction program evaluations, project risk and controls assessments, contract compliance analyses and cost investigations, as well as project support on complex and troubled projects. We provide focused industry knowledge, multidisciplinary teams, and substantive experience in managing both the financial and technical aspects of major capital projects and programs.
Our list of construction advisory services include:
Cost Planning and Construction Cost
Cost planning and construction cost is the process of construction budget estimating which seeks to offer some form of cost control mechanism through the design process, and finally through the procurement and construction phase. The main aim is to provide cost advice to the client, expenditure control and overall better value for money. This process keeps the client and design team fully informed at each stage, from concept to final accounts. WBG Advisory can provide cost plans and construction cost estimates to prospective developers, investors and contractors. WBG Advisory has over the years developed a comprehensive and detailed rates breakdown, including all-in rates build-up using current market prices for materials, labour, and production standard out-puts.
Feasibility and Viability Reports
At the feasibility stage of any project it is important for the client/developer to have solid and reliable cost information to determine whether or not the project should proceed, WBG Advisory can provide clients and developers with the following services under the umbrella of the feasibility and viability report; - Detailed construction cost budget - Detailed risk analysis on various proposed schemes - Procurement route choices - Detailed cashflow analysis which will assist the developer in forecasting funding levels.
Bills of Quantities Production
WBG Advisory can boast itself of a strong background in traditional quantity surveying practices in which Bills of Quantities production is the cornerstone. The production of a clear, robust and accurate Bills of Quantities not only assist with the issue of transparency, it also provides the best basis for accurate construction costing and tender comparison. It provides the design team with a detailed audit of the design which proves to be an invaluable tool for value engineering. WBG Advisory can provide detailed Bills of Quantities from incomplete drawings whereby approximate bills can form the basis of the cost plan. WBG Advisory holds licenses for several bills production software which assist greatly in the accuracy and speed of the production. WBG Advisory provides Bills of Quantities production services for both developers and contractors (Builders Quantities).
Tender Documentation, Analysis and Report
The composition of the tender documentation will be determined by the procurement route chosen for the project. The process of documentation involves the compiling of a tender package which would typically include the following; - Bills of Quantities/Schedule of rates/scope or work schedule - Tender drawings - Specifications - Preliminaries - Sample contracts and security forms WBG can provide the service of compiling the tender package, administer tender addendums, receipt of tender returns, analyze the tender return documents, and final report with recommendations.
Project Value Management and Engineering
This process aims at identifying where the high value areas are in a project and removing unnecessary cost before, during and after construction. Value engineering technique seeks to improve the value for money in construction projects by changing the design to improve their efficiency at no extra cost. WBG Advisory can provide value engineering services throughout the life of the project which will clearly define what is valued on a project which will help the decision making process.
Construction Contract Administration
Contract administration involves the timely flow of information which will enhance the construction process and assist the client decision making ability. WBG Advisory can provide a comprehensive service to the client regardless to the type of contract. WBG Advisory will ensure all contractual obligations are met by both clients and contractor. Monthly reports will be issued which would typically include current and projected cost, variations and claims tracking, contingency monitoring and cashflow forecasting. As part of our services where WBG Advisory is not directly involved in the overall contract administration of a project we are still able to provide accurate assessments of value of works to date and variation assessments, for financial lending institutions and developers.
Cashflow Forecasting
Cashflow forecast can be defined as the process of identifying when costs are expected to be incurred. This is normally done in conjunction with the contractors programme of works. An accurate prediction of a project cashflow is important to any client and developer to ensure the appropriate level of funding is available at the right time. WBG Advisory can provide accurate cashflow forecast which will be updated during the construction phase to reflect changes due to variations etc. cashflow forecast can also help in monitoring the progress of the works.
Cost Replacement Valuation
Cost Replacement Valuations are typically done for insurance purposes. This confirms the value to replace a property in the event of being destroyed. WBG Advisory provides a detailed valuation report which can be used by insurance companies to assist in premium calculations. WBG Advisory reports will typically include; Demolition and site clearance; professional fees and governmental taxes; construction replacement cost to match existing, using current techniques and materials; and allowance for inflation.