Funder Advisory & Project Monitoring
At Mitchell McDermott, we have a dedicated team of qualified Quantity Surveyors specialising solely in performing funder advisory and project monitoring services to banks and financial institutions located in Ireland and abroad.
Our due diligence and meticulous attention to detail ensures Funders are provided with an independent view of risks and costs associated with any given construction project being funded.
This is backed up by a wider team of quantity surveyors and project managers. We utilise valuable information gained over many projects which enables detailed benchmarking of construction projects.
Be better informed regarding project risk and costs. Explore our Funder Advisory services below.
Our Role as Bank Funding Monitors
We provide a specialist service focusing on project and cost risks in order to manage and protect the interests of a lender whilst driving a successful project to completion and handover.
Essentially, our role as construction Project Monitoring Surveyors is to develop a detailed risk assessment and cost review by looking at the wider picture thus enabling more informed decision making. Our Funder advisory service requires a full understanding of all the additional costs involved to successfully develop and complete the build and the impact of project risks versus available funds and viability.
Our role as Bank Monitoring Surveyors is to provide a professional independent review of construction projects. When delivered efficiently, it supports the successful delivery of any real estate development requiring bank funding and oversight.
Coupled with this is a thorough understanding of construction processes, which enables your Mitchell McDermott consultant to provide the Funder with support and comfort that construction is progressing as per approved and agreed budgets and on programme.
These construction consulting and advisory services are not only to the benefit of those providing third-party finance (the lender) but also to the benefit of the borrower, with the shared goal of delivering a successful project on time and on budget.
Fund Monitoring Key Responsibilities
-
Outline and understand the goals of the project and assess the feasibility and appropriateness of the proposed budget, including developer and soft costs associated with the project.
-
Review and evaluate all project risks while monitoring construction projects.
-
Provide early warning to the lender on potential risks and how these risks can be managed or mitigated.
-
Advise on procurement options.
-
Construction progress monitoring in terms of the project programme and budget.
-
Recommend the drawdown of funds monthly in line with progress and certified construction claims to ensure that expenditure of the development finance facility is being spent in line with the original agreement.
-
Assess the risk of variations to the construction contract and agree with the Funder.
-
Construction site monitoring with regular visits to check on the progress and report back to the Funder our findings, along with a visual record of the same.
A good Project Monitor acting for the Funder must have a broad knowledge of real estate development delivery and the construction industry. Our Funder Advisory team has a clear understanding of the parts that typically make up a successful project and is clear on all the threats, how to mitigate risk areas, and how they should be managed.
Our Funder Advisory Services
At Mitchell McDermott, our funder advisory team has extensive experience gained from local and international construction projects.
This expertise within the construction sector enables our team to view and support developments from a wider perspective than the obvious and provide project monitoring services to funding institutions with valuable insights into specific risks and associated costs.
Let us help you make informed decisions on funding opportunities. Our funder cost, risk, and project services include:
Statutory Compliance Review
Keeping track of local regulations and construction laws is essential when it comes to reviewing construction projects for Funding purposes.
Benchmarking
Our Funding Team provides accurate benchmarking on specific projects from information gathered by the wider team at Mitchell McDermott. This can be accessed by us internally through our online portal, Faesa©. Having access to this information allows us to accurately benchmark projects with up-to-date costs adjusted for current inflation, ensuring accurate reviews of associated construction costs per project. Funding institutions to which we have provided this type of benchmarking have found the information to be invaluable.
Programme Assessment
From project initiation to completion, we assess the timelines throughout the entire project lifecycle, ensuring the programme is adhered to by the Contractor at every phase and stage.
Cash Flow Monitoring
Our monthly tracking of the development cash flow keeps the Funder informed of any over or underspend.
Monitoring the cashflow is usually done in conjunction with the construction programme.
Invoice Tracking & Verification
As one of the leading investment consultant firms in Ireland, we meticulously track monthly expenditures on projects with accurate invoice checking. We ensure budgets are adhered to, and any cost overruns are identified early and reported to the Funder. This ensures budgets are maintained and project costs are kept within budget.
Email us at hello@mitchellmcdermott.com to find out more about our dedicated Funder Advisory Services.
Construction Cost Consultancy in Ireland
Mitchell McDermott is a reputable construction and investment consultancy firm based in Dublin, Ireland.
Our commitment to transparency, innovation and tailored solutions for construction projects makes us a leading construction cost consultancy that thrives on excellence. In any commercial space, our management consultancy works closely with investors, clients and contractors to ensure a bespoke service.
Hands-On Teams
Our dedicated Funder Advisory Team at Mitchel McDermott consists of qualified individuals with vast and varied practical experience and expertise with notable satisfied Funders and Funding institutions who will attest to the excellent project monitoring and construction advisory services we provide.
Big Thinking
In addition to our construction monitoring services and property funding consultancy services, we offer specialist services like Quantity Surveying and Project Management, covering a multitude of construction sectors.
Let’s build something great together. Get in touch with our property investment consultants regarding your next Funding opportunity.