Cost and Commercial Management

Preparation of the project Cost Plans based on individual stages of project documentation. The structure and detail of the Cost Plans increase depending on the complexity and detail of the submitted documentation (project documentation, specifications and standards). It also includes discussion and review of the Cost Plan with the client.

Organization and evaluation of procurement processes for construction contractors. Tenders may be conducted either on behalf of the project investor (e.g., tender for the general contractor or partial tenders for direct subcontractors) or in an Open Book format, in collaboration with the investor and the general contractor, involving tendering of specific work packages for individual parts of the project.

Cost optimization of the building design, both in terms of specifications (materials and standards used) and proposed construction methods and technologies. Evaluation and pricing of technical solutions aimed at cost savings, schedule reduction, or improved return on planned financial investments.

Management and oversight of the change process through formal Change Orders. Recording, review, and negotiation of individual change valuations with the contractor and the project investor.

Review and approval of the contractor’s interim payment applications based on the executed work volumes and works contractual price, including the issuance of Certificates for interim and final payments. Tracking of total construction costs, including approved changes, progress of completed works, and potential claims for price reductions (e.g., penalties, retentions) as part of the project’s final account settlement.

Preparation of Bank Monitoring Reports during the execution of the construction works (initial report, monthly progress reports, and final report) for the purpose of drawing down funds from a construction loan facility.