PROJECT AUDITS

For the past 20 years JFP Urban Consultants has been providing construction risk advice and project auditing services to financial institutions, including some of Australia’s major banks, on land subdivisions.

Being a multi-disciplinary company that includes Engineers, Town Planners, Surveyors, Landscape Architects & Aborists enhances our ability to identify risks and to ensure that Financiers understand the construction costs associated with projects. We understand the full spectrum of potential project risks because we cover all facets of land development from Concept to Completion.

Unlike built form projects, where in the ground costs represent a smaller proportion of the overall costs, land subdivisions are exposed to significant cost risks relating to ground conditions. Having Engineers who administer Civil Contracts within our ranks makes JFP very aware of the variability and impacts that ground conditions can have on the end cost. It is relatively straight forward to review invoices and provide a cost to date on projects. JFP prides itself on its ability to go one step further to provide an accurate Cost to Complete Analysis, based on a thorough understanding of the land subdivision construction process, to financial institutions so that they can make informed decisions on how best to manage their financial risk on a project.

Keeping Financiers comfortable with potential project risks in a timely, accurate manner ensures that the Developer can drawdown the appropriate funding allocation promptly to facilitate future works.

Typically, a Financial Audit includes an initial Pre-Commencement Report (summarising the budget, approvals, insurances, etc.) and Monthly Drawdown Reports detailing works complete and an analysis of cost to complete. Each financier has their own requirements and as such we work with the financier to provide a standard reporting style which offers clarity in the reported information and is easy to understand.