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Museum of Jewish Heritage, NY |
Financial institutions are often at risk when funding construction projects. Whether the source is a bank, brokerage house, venture capitalist, or angel investor, GREYHAWK can help to successfully protect the investment.
Drawing upon a combination of our technical training and wealth of construction experience, we effectively identify, monitor, and control potential exposure. GREYHAWK is able to reduce our clients’ risks by raising a “red flag” on projects where the value of the work installed may be lower than the liquidated cost of the asset. Providing this service before and during the construction process minimizes the likelihood of more significant financial problems over the course of the project.
GREYHAWK's financial monitoring services, which are organized into two separate phases (Preconstruction and Construction Services), are beneficial to construction projects of virtually every size and type. We work within a client's specific project and contract constraints to break down risks and exposures into manageable components: financial, contractual, operational, organizational, and insurable. GREYHAWK’s services include:
Preconstruction Services |
- Provide independent soft and hard cost estimates
- Determine the value of soft and hard cost contingencies
- Independently verify construction schedules
- Verify that permits, insurance, and applicable licenses are secured
- Evaluate bid, payment, and performance bond alternatives
- Analyze lenders’ risks
- Project delivery system and selected contract forms
- Complexity and uncertainties of the project
- Accuracy and completeness of construction documents
- Allocation of risk among project participants
- Escalation of labor, material, and equipment costs
- Labor and material availability
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Construction Services |
- Verify that monthly payment requisitions are consistent with actual construction progress
- Audit the work in place to confirm that its value reasonably matches invoiced amounts
- Evaluate requests for cost/schedule changes to determine their impact on the value of work
- Provide monthly reports that include description of work, progress photos, cost summaries and schedule summaries
- Verify collection of releases, waivers, guarantees, as-built documents, and manuals
- Arrange for construction management completion services in the event of default
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