SOCOTEC’s professionals combine education, industry experience, analytical skills and the latest technologies to conduct risk assessments, prepare management plans, set up project controls, and provide progress monitoring and reporting on large and complex projects to assist our clients in the proactive management of their construction projects. Our proactive management approach can greatly reduce the inherent risks in the construction process and significantly increase the ability for a project to finish on time and on budget.
SOCOTEC's Project Advisory team identifies critical issues relevant to a project’s success in the built environment, from pre-construction planning and procurement through project execution and close-out. Our versatile team provides insight into processes that improve project performance, analyzing estimates, budgets, schedules, contracts, and control systems, and then integrating those pieces into an efficient whole. We bridge the gaps by improving transparency and communication among stakeholders.
Our Project Advisory Services
Our pre-construction services may include assisting in project planning and scheduling, project cost and cash flow budgeting, value engineering, contractor budget analysis, project scope reviews and more.
During Project Execution
If needed, SOCOTEC can offer full-time personnel on site to monitor and report on project progress, resource and equipment utilization, productivity, project management training, change order review, cost variance reporting, periodic executive briefings and more.
Project Close Out
Our close out services can include change order resolution or negotiation of final settlements with contractors, final audit reports, final payment scheduling, curtailment of rental equipment, dispute resolution, litigation analysis and expert witness testimony as required.
Project Advisory Services
SOCOTEC’s Project Advisory Services practice focuses on supporting our clients’ project-level and executive decision-making during all stages of the construction project life cycle – from pre-construction planning and procurement, through project execution, project close-out, and post-construction dispute resolution if necessary. Our engagements are specifically tailored to the needs of each individual client and project, with the fundamental goals of identifying and avoiding or mitigating the risks inherent in each phase of the project, and providing accurate and actionable information to the project and executive team in order to improve project outcomes.
Large capital projects often include multiple investment partners, with a smaller group or single partner responsible for project management and execution. Accurate and timely project reporting is imperative to both project execution and communication to investment partners. Our Project Advisory Services can provide a contemporaneous independent assessment of a project for the benefit of all investors as well as assistance to the project management team.
Pre-Construction services offered may include:
- Assisting in project planning, phasing, interim turnover goals, and scheduling
- Project cost and cash flow budgeting
- Due Diligence investigations of potential major contractors or subcontractors
- Assistance with bid tabulation and evaluation of competing proposals
- Value Engineering
- Contingent planning for known risks
- Development of invoicing and cost auditing procedures
- Development of quantity or progress verification models
- Review of Contractors’ budgets to confirm reasonableness of cost and completeness of scope
- Special Studies as required
During Project Execution, our engagements often, but not necessarily, include assigning personnel full-time at the Project site to:
- Monitor and independently report on progress, resource and equipment utilization, installed quantities, and productivity
- Monitor project schedule and identify schedule risks and forecast schedule outcome
- Plant visits to equipment supplier or module assembly site as necessary to confirm quality or delivery schedule
- Provide training to project management and/or Contractor staff to improve the quality and completeness of project recordation
- Review and process Contractor Applications for Payment, including auditing of Contractor invoices to ensure Contract compliance
- Change Order/Extra Work Order review and recommendations
- Prepare periodic cost variance reports and scenario analyses to identify potential claim items
- Periodic Status Reporting and Project Outcome Forecasting
- Periodic Executive Briefings
Project Close-Out services can include:
- Change Order resolution or negotiation of final settlements with Contractors
- Prepare final audit reports
- Track final payment of subcontractors and vendors and lien releases
- Material salvage or purchased equipment disposition
- Monitor Contractor demobilization and curtailment of rental equipment
- Monitor or manage restoration of temporary material or equipment yards
- Dispute resolution, litigation analysis, and expert witness testimony as required