Funder Advisory &
Project Monitoring
At Mitchell McDermott, we have a dedicated team 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 risk and costs associated with any given project being funded. This is backed up by a wider team of quantity surveyors and project managers, as well as valuable information gained over many projects used for detailed benchmarking of construction projects.
View our Funder Advisory services below.
Our Funder Advisory Services
At Mitchell McDermott, our funder advisory team has experience gained from local and international construction projects, enabling the team to view developments from a wider perspective than the obvious and provide 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:
Our Role as Bank Funding Monitors
Our role as Independent Bank Monitoring Surveyors is to provide a professional service as part of a wider construction project team. When delivered efficiently, it supports the successful delivery of any real estate development requiring bank funding and oversight.
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 development to completion and handover.
Essentially, our role as Project Monitoring Surveyors is to undertake a risk assessment which requires a full understanding of all the costs involved to complete the build, and the impact of project risks versus available funds.
Coupled with this is a thorough understanding of construction processes which enables us to provide the Funder with comfort that construction is progressing as planned and on programme.
This is 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
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Outline and understand the goals of the project and assess the feasibility and appropriateness of the proposed budget, including construction costs and soft costs associated with the project.
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Visit the construction site regularly to check on the progress and report back to the Funder our findings along with a visual record of the same.
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Provide early warning to the lender on potential risks and how these risks can be managed or mitigated.
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Advise on procurement options.
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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.
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Monitor the progress of the project in terms of the programme and budget.
- Assess the risk of variations to the construction contract and agree with the Funder.
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Review and evaluate all project risks.
A good Project Monitor acting for the Funder must have a broad knowledge of real estate development delivery, such as understanding the parts that typically make up a successful project and being clear on all the risks and how they should be managed.
Statutory Compliance Review
Keeping track of local regulations and construction laws is essential for any property investment. Our reviews ensure your investments remain compliant, saving you from future legal concerns.
Benchmarking
We provide 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. Funding institutions we have provided this type of benchmarking to have found the information to be invaluable.
Programme Assessment
From project initiation to completion, we assess the timelines, making sure every phase aligns with the project objectives.
Cash Flow Monitoring
Our monthly tracking of the development cash flow keeps the Funder informed of any over or underspend, usually in conjunction with the construction programme.
Invoice Tracking & Verification
We meticulously track monthly expenditure on projects with accurate invoice checking, ensuring budgets are adhered to and any cost overruns are identified early and reported to the Funder.
Email us at hello@mitchellmcdermott.com to find out more about our tailored property investment consultancy services.
Want to build better?
Construction Cost Consultancy in Ireland
Mitchell McDermott is a reputable construction and investment consultancy firm.
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, we work closely with investors, clients and contractors to ensure a bespoke service, and our dedicated Funder Advisory Team at Mitchel McDermott consists of qualified individuals with vast and varied experience with notable satisfied Funders and Funding institutions who will attest to the excellent service they provide.
In addition to our 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 us regarding your next Funding opportunity.