Construction Cost Monitoring Services
Knowing exactly "what" and "how much" you are being billed for construction is the important first step in determining whether or not you are being overcharged. Contractor's applications for payment to the owner are often complex. Tracking and analyzing those costs and understanding the interrelationship with the contract documents can be a very demanding job.
These applications normally contain a large amount of supporting documentation and require a great deal of time to properly review and analyze. R. L. Townsend & Associates, Inc. can effectively perform this cumbersome task, thereby allowing you more time to focus on other important issues without being burdened with the detailed review of excessive amounts of paperwork.
Objectives
- Determine the cost components for each billing and the amount charged for each.
- Determine that current billings are in accordance with contractual limitations or maximums.
- Identify job costs which are not properly supported.
- Identify situations which might warrant special attention and/or field level cost control considerations.
- Enhance the quality of a final audit and decrease the amount of field work required.
Approach
- Perform a thorough review of all supporting documentation submitted with each application for payment
- Use a database program developed by R. L. Townsend & Associates, Inc. to capture and report on all job costs analyzed during the review.
- Prepare a summary report for the owner which outlines the details of potential exception items and/or identify circumstances which might require special consideration.
