How we report on the commercial position of your construction project or business

Contract Control is able to receive your commercial information on a confidential basis and create understandable forecasts and graphical representations for your purposes. We can asess the current and forecast commercial health of a construction project or your business so that you can be confident in your understanding of how things are now, and how things will perform in the future. These excercises are often referred to within the construction industry as cost to complete projections, or final account projections.

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Having confidence in your understanding of your project or business is highly important. Your commercial reporting may also expose you to significant libilities if incorrect and if required by contract. Things like unknown future costs, unknown time and unknown current exposure all contribute toward serious commercial issues if not addressed early.

Budget tracking & project health forecasting

Contract Control is able to receive your commercial information on a confidential basis and create understandable forecasts and graphical representations for your purposes.

We can assess the current health of your construction project and forecast its commercial going forward. You can be confident in your understanding of how things are now, and how things will perform in the future.

These exercises are often referred to within the construction industry as cost to complete projections, or final account projections.

contract control
contract control

Avoid time and cost issues

Understanding how your project is tracking is essential to being able to mitigate foreseen issues.

For example, if your labour or materials costs appear to be excessive, then you may need to change your operating processes to mitigate losses due to inefficient labour or material wastage.

Similarly, if your project preliminary and general (management, and site offices, mobile phone costs etc) are excessive, then this may indicate one of 2 things:

1. The project may have run over time, or
2. The project may have been under priced in the first instance.

Understanding the health of your project is essential to managing the associated risks. You cannot fix what you don’t know about.

Correction of tendering rates

It is essential for a construction business to understand issues to avoid repeating them.

It would not be preferable to continue to ‘under-price’ construction work over and over.

A cost to complete exercise can establish the profitability on each part of the priced works so that the allowances for margin and costs can be corrected based on updated productivity data.

High confidence reporting

Having confidence in your understanding of your project important.

Your commercial reporting may also expose you to significant liabilities if incorrect and if required by contract.

Things like unknown future costs, unknown time and unknown current exposure all contribute toward serious commercial issues if not addressed adequately.

contract control
contract control

Valuations

Commercial reports include valuation of construction works performed.

This can be performed remotely, as a desktop exercise, or we can also provide professional staff to attend the project and value the works accordingly.

Some building contracts require the valuation of the works so that party A knows how much to pay to Party B. Valuations are also required occasionally by the payer to satisfy the lending requirements of its bank.

Information we require

- We require:

1. a copy of your current costs and,
2. an understanding of the contracted scope of works
3. an understanding of the current status of the project

- This is usually achieved by providing:

1. a copy of your accounting software records (if available), or your invoices,
2. a copy of your tender file (if you have already have a successful award of the contract),
3. a completed from which we will provide you which identifies:

a. Current earned revenue,
b. Current project time information,
c. Current outstanding procurement orders,

We accept xero data, Microsoft Excel records, paper & electronic invoices. We are able to work with several construction software platforms. Please feel free to contact us to chat about your needs” end of content addition