maintains a cost record of the total subcontracts to date, which allows the owner to make a continuous audit each month, thereby requiring only a summation of the continuous audit at the close of the job.
2. Our project accountant will provide oversight of invoices and releases provided by the general contractor to insure compliance with the contract requirements. Regardless of contract specificity, will require specific performance by the general contractor regarding all statutory payment issues (i.e. releases and timely payment of subcontractors).
Cost Control and Tracking
- During the design phase, develops a detailed cost breakdown that is used to track the project cost through the design phases. All design adjustments are analyzed for potential impact on construction costs.
- The KKG budget is used as a cross check to those provided by the contractors or design team.
- Cash flow projections are produced early in the budgeting process, then fine-tuned prior to commencing construction. Cash flow is tracked during construction on an actual versus projected basis.
- As the project is bought out, the Project Cost Analysis tracks the budget/final estimate/actual relationship so the construction team stays focused on the pursuit of our cost expectations.
- Any changes in contract documents that are produced by the design team are tracked for pricing and implementation. manages this process. Pricing submitted by the contractor or consultant are reviewed for appropriateness. Separate estimates are prepared for all changes as a validation cross-check. If inexplicable variances are found in the Change Order Request submitted by the contractor, further evidence is required to substantiate the cost before approval. When the COR is in line, we submit the document for approval by the Owner.
- Monthly draw requests are managed by . Before we authorize funding, we validate releases are correct, insurances are still in place, and all contract documents are current before passing on authorizations for payment.
- assists the Owner in managing the construction loan. This can include compiling the monthly draw package and coordinating necessary inspections and maintenance of the bank loan documents and loan breakdowns.
Labor Compliance Tracking