The CMC construction risk team serves lenders and investors by providing expert analysis and advice to safeguard their interests during the project construction and delivery stage. Our services can be customized to meet our client's needs based upon project size, project type (new construction or renovation), budget, borrower relationship and risk position.
We address key areas such as project plans and contracts, developer and contractor track record, together with a keen focus on budget and schedule. In the pre-construction review phase, CMC will review the construction and project documents and advise on their quality and completeness. During construction, the CMC team will conduct site inspections and monitor construction progress, identifying deficiencies and highlighting other concerns. CMC will review and analyze payment applications, change orders and delivery schedule. CMC’s site inspection and progress report will contain a detailed schedule of values reconciliation and a disbursement recommendation based upon the valuation of completed work in place.
CMC’s project management teams will support our clients’ construction risk and loan administration staff from project start to through project close-out.
Our Construction Oversight services are typically provided in three (3) phases and can be customized to meet our client's needs based upon project size, type (new construction or renovation), risk position, budget, borrower relationship, and other factors.
Our typical service package includes but is not limited to:
Project Pre-Construction Review Phase• Review of plans, drawings and specifications• Review of regulatory documents• Conditions assessment for existing buildings• Analysis of direct cost budget for appropriateness• Analysis of contingency budget(s)• Review of contract documents: design, construction, and loan (BLA)• Review of construction and disbursement schedules• Recommendation on Bonding or Sub-guard insurance requirements• Preparation of a Project Plan & Cost Report
Project Construction Monitoring Phase• Monthly project site visits and walk-throughs• Monthly project meetings• Track/analyze construction schedules• Track/analyze unit delivery schedules• Progress analysis and updates• Ongoing review of contract(s) buyout status• Change Order review and analysis• Potential Change Order review and analysis• Earned value analysis and review of work-in-place• Opinion on the quality of workmanship and exceptions to work• Review and analysis of invoices• Recommendation of cost-to-complete• Contingency funding analysis• Analysis of available loan funds or shortfalls• Budget reconciliation and "out-of-balance" reporting• Review of contractor and sub-contractor payment requisition• Review of current partial lien waivers• Disbursement review and recommendation• Project metrics and predictive analytics• Photographic documentation of progress• Preparation of a comprehensive, detailed Site Visit Report
Project Completion and Closeout Phase• Final Requisition review• Final Advance recommendation• Substantial Completion review• As-Built Plans• Punch list review• Architect's Certificate-of-Compliance• Final Lien Waivers• Contractors' Certificates-of-Completion• Temporary and Permanent Certificates of Occupancy• Consents of Surety• Warranty information