As the Project Monitor on a financed project, the Quantity Surveyor acts as an independent advisor to the owner and the lender. The Project monitor provides a preliminary report concerning the completeness of or identifying any areas of concern in the budgets & financial plans, construction plans/drawings, contracts, and permits associated with the project. Periodic Status reports are prepared reporting on the opinion of costs to date, work completed, updating the cash flow projection, identify any areas of concern for the project. Lenders benefit from Project Monitoring as an extra security that their capital will not be subject to any undue risks, and Owners benefit from this service because it helps them to secure financing and identify any problems along the way.
Change Order Review
A change in the project after the contract has been signed leaves both parties with the question of what is a fair and reasonable way to determine who is responsible for the cost impact of this change. Changes can happen for any number of reasons: sometimes technical or contractual documents are interpreted differently, the design changes, quality change, schedules run over or get delayed because of permits or inadequate schedule allowance, overtime or a change in the availability of labour or material. Because Quantity Surveyors are experts at detail, contracts and construction costs, they are in the perfect position to provide both the Owner and Contractor with a fair review of the how the change impacts the cost. The detail provided in the review leaves both parties with a clear, credible method to resolve how changes are handled before they become bigger problems.
A contractor may submit a claim for greater payment than the original contract called for after the work has already been complete. Unresolved claims can result in construction liens so it is important to address the claims before they become bigger issues. Similar to a Change Order review, the Quantity Surveyor evaluates the details of the claim and provides an unbiased recommendation concerning the cost. Using a third party to recommend a fair and reasonable settlement keeps Owners and Contractors satisfied that the price being charged for changes are appropriate.
Since Claims Reviews are independent, A.W. Hooker can be engaged by the contractor to prepare and substantiate a claim, or they can be engaged by the Owner to defend and negotiate claims.