Our Affiliates are now Project Monitoring Surveyors for the Largest Integrated Casino Resort in Europe being constructed in Limassol as well as the Ayia Napa Marina.
Project monitoring services can be carried out for a range of different client types:
- A funding institution which will acquire the project as an investment upon completion
- A tenant or purchaser who will commit to lease or purchase the project upon completion
- A bank or development finance company
- Grant funders
- Private finance initiative (PFI) funders
The project monitor 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 monitor can also be of value to the developer, as they can help ensure there is better-informed decision-making.
The Issues that the project monitor will typically advise on include the following, although personalised elements and concerns can be also addressed. Reports are produced and presented on a monthly basis:
- Land and property acquisition
- Statutory consents
- Issues relating to the developer and project management systems
- Â Financial appraisals
-  Construction agreements
- Costs
- Programme
- Design and construction quality
- Any Environmental Issues and concerns
Some of the advantages to the client of hiring a project monitor include:
- Enhanced risk management
- Enhanced financial management
- Enhanced programme management
- Enhanced quality management
- Greater protection of the client’s interests
- Better-informed decision making
(Source: www.designingbuildings.co.uk/wiki/Project_monitoring)