Surveyors and Property Consultants

Regeneration & Strategic Development


Project Monitoring & Output Review

 

Projects in the built environment by their very nature ultimately take time to deliver.  Over this period many of the project variables and inputs can change, indeed the criteria driving the very need for the project in the first place may have fundamentally altered.  Successful projects are able to identify those changes, devise alternative solutions and ultimately respond to those new circumstances.

 

A defined project monitoring programme during project gestation and delivery stages ensures that a project remains on track and responds to changing conditions in such matters as the market, the delivery platform and the funding regime.   Once completed, the performance of that project should be tested against a variety of benchmarks including expectations, performance indicators, contractual obligations and, as appropriate, financial returns.

 

A systematic project monitoring approach during the delivery phase of a project ensures that the delivery remains on track, that resources continue to be properly employed and that variations can be accommodated.   Project viability in particular needs to be kept under constant review.  The opportunities for value engineering, together with cost engineering, must be exploited to achieve the best possible returns.  Indeed, for example, good practice suggests that project viability should be reviewed and reassessed at each of the key stages of the RIBA Plan of Work, and at any significant design changes, and in a wider context as part of a holistic project monitoring exercise.  This project monitoring approach recognises that adjustments will inevitably need to be made and allows time for those adjustments to be made.

 

It is important to know whether completed projects have met expectations, whether anticipated outputs have been achieved and whether financial and viability targets have been met. Undertaking an output review upon completion of a project, or depending on the circumstances after a defined period following completion, allows the project to be tested against those benchmarks.  Changes may still need to be made to the project to secure the achievement of the anticipated outputs and, critically, lessons learnt for the delivery of future projects.  Output reviews should have regard to the development obligations imposed by any development or implementation agreements and, if necessary, measures put in place to satisfy those contractual commitments.   Funding and legal commitments need to resolved and finalised and any property title and other such matter concluded.

 

We are highly experienced in project delivery and are able to forensically monitor all aspects of project delivery to ensure the best outcome for that project and the parties involved.   In relation to project finances in particular we are used to undertaking viability appraisals throughout a project lifespan and working as part of a multi-disciplinary team to implement changes and ultimately secure the best overall outcome.


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