Post Contract Cost Control and Contract Administration

Thorough, timely and systematic building progress inspections at Quantum QS allow us to make the statement of “we are the progress inspection specialists” - providing a full building progress inspection and cost control service. When engaged to provide post-contract cost control, we will inspect and review a builder’s progress claims for payment, together with assessing and negotiating claims for variations as required and agreement of the final account. A well-defined and accurately quantified scope of works is an integral component for achieving a successful outcome when tendering projects

Why should you choose Quantum QS for building progress and cost control?

Our ongoing building progress and cost control service is thorough and detailed. Conducting regular building progress inspections, we provide weekly, fortnightly or monthly cost reporting to our clients with a snapshot of the financial position and health of the project at regular stages. We encourage close project involvement and regular progress inspection in order to monitor and more accurately report on forecasting the final end cost to our clients.

In addition to our building progress services, our clients often engage us to complete additional and subsequent property services including cost planning and bills of quantities as well as practical property services such as sinking fund forecasting and insurance valuations. For more information on our property services of for a quote, contact us today

Quantum QS’s Post Contract Procedures can be summarised as below:

  • End of Cost planning and tender selection stage, commencement of post contract services
  • Determine the parameters of the contractual obligations for Progress Claims and Payments
  • Review and establish all cost are relevant to the initial pre-commencement report including provisional sums that may be associated with the project
  • Review all relevant correspondence to the main contractor during the construction phase; identify all potential variations and variations that have been approved recording a register
  • Review potential time extension claims and delays, to assist in the assessment of time management whilst monitoring actual and potential cost
  • During the construction phase we randomly attend meetings; these may include site, consultants, client and any other special meeting that may arise depending on the necessity
  • Ensuring interval (monthly) progress claims comply with the building contract obligations; our assessment methodology is general based on proforma basis for value of materials on or off the site whilst noting BUT excluding the Security of Payment Legislative obligations
  • Financial Statement or progress claim certificate is followed upon a site inspection to assess the progress on site, our budget report includes but is not limited to the progress claim status, cash flow status, variation status, time delay cost status and any other project related cost impost as an example these may relate to fixture fitments and equipment or other fees
  • Upon the completion of the construction phase is the final account stage, we finalise all variations and associated claims to the project, negotiate the final settlement with the main contractor and produce a final account statement capturing the phase of the built project
  • Preparation of an insurance replacement cost estimate upon completion of the project and prior to final hand over date as the project insurance policy will cease at this point in time
  • Preparation of a sinking fund forecast plan to hand over to the owners corporation or body corporation depending on the state or to the designated strata management agency
  • Preparation of tax depreciation schedules to hand down to prospective property investors