Project Monitoring is the process of protecting the interests of the client from risks associated with a project which is not directly under their control. This is a much misunderstood and undervalued service that is both separate and distinct from either Project Management or Construction Management respectively. It is also known as Development Monitoring or Fund Surveying.
Project Monitoring is carried out on behalf of a range of Client types, however, they can be broadly categorised into the following:
- Funding institution/Institutional investor, who will own the development upon completion
- Tenant or purchaser which, depending upon the nature of the scheme, enters into an Agreement to Lease or purchase of the development or part of upon completion
- Bank or other development finance company who provide finance during the development. In this scenario, their involvement ceases upon completion of the scheme
What does the Project Monitoring Surveyor do?
In effect, the project monitoring role is to act as the ‘eyes and ears’ of the client during the development process.
The project monitoring surveyor assesses the project as it progresses in a way that is both independent and impartial. They generally adopt a proactive rather than reactive approach, providing a form of ‘early warning system’ for the client, anticipating potential issues which may affect the project delivery. In this way, the project monitoring surveyor can also be of value to the developer, as they can help ensure there is better-informed decision-making.
Depending upon the nature and type of instruction, issues that the project monitor would comment/advise on include:
- Land and property acquisition
- Statutory consents relating to the scheme
- Construction agreements between the relevant parties
- Costs/finance appraisals
- Programme (both overall development and construction)
- Overall design
- On site construction quality
Some of the advantages of instructing a Project Monitoring Surveyor include:
- Improved risk management
- Improved financial management
- Improved programme management
- Increased quality management (throughout the development and not just during the construction phase)
- Providing a platform for more informed decision process
How we can help you
Bradley-Mason LLP offers a range of management services for clients building portfolio’s across the UK. With years of experience, our Project Management team can ensure that whatever your requirements, we will provide expert advice and assistance whatever your business project. Working closely with you throughout the entire process, we endeavour to understand various operational requirements to ensure that you receive the best support possible for your project.
Our approach is based upon a proven methodology that addresses the needs of the project throughout its life cycle, setting out a framework of controls that can be applied to ensure its successful completion
We have a proven track record of delivering projects within both the public and private sectors including education, health, heritage, transport, residential, retail and commercial schemes.