We keep a health-check on all projects we monitor and provide crucial information and projections that prevent our clients from losses and project failures.
At Archvision Workgroup, we carry out detailed project monitoring services in Nigeria for Project Sponsors, Banks, financial institutions and project stakeholders who have projects in Nigeria. We pride ourselves in our reputation of being the leading provider of project monitoring services in Nigeria as a distinct part of our comprehensive project management services. Projects with diverse stakeholders with financial interests require a non-partisan, independent and transparent reporting system, which is what our project monitoring and control services provides.
We monitor all critical success factors on projects for our clients. Our detailed risks assessment provides insight into possible challenges affecting the delivery of the project and their impact on the interests of our clients. As clients’ representatives, we act on behalf of the project sponsor to keep track of project deliverables in view of planned investment criteria.
The scope of our Project monitoring and control services include:
COST CONTROL AND REPORTING
At Archvision Nigeria, our in-house quantity Surveyors are involved throughout the duration projects as effective cost strategists in order to protect the financial interests of our clients.
- We evaluate the financial position of the projects we monitor by providing regular reports of the value of work executed compared to the loan drawn-downs to-date (or disbursements-to-date). The audits we perform provide a snapshot of the project health and form a realistic basis for tracking project cost.
- We establish a baseline for each project we monitor allowing us to monitor current project performance and also to improve the accuracy of future estimates.
- We proactively track and report changes and variations in the anticipated cost, giving room for timely decisions on design changes while maintaining the initial program budget.
- We provide value engineering alternatives with cost, quality, and schedule benefits to the project team.
If you require to monitor your project closely so it delivers your expected outcomes, contact us today to find out how our project monitoring and control services can be of benefit of you.
We closely monitor projects to minimise project costs and enhance value for money for our clients while maintaining the required quality standards.
DRAW DOWN CERTIFICATIONS
It is important that project loans or disbursements are effectively channeled to the projects for which the loan was requested and approved. Consequently, our governance system controls how contractors and suppliers are paid with the use of draw down certifications. This method has consistently proved invaluable as part of our project monitoring services in Nigeria.
Since project sponsors expect that all project disbursements received should produce value on the projects and not used for other purposes, our draw down certification system emphasizes conditions precedent to further payments.
The draw-down certifications we provide to financial institutions and project sponsors on construction loans states the following among others:
- Total project cost and anticipated total project cost.
- Actual value of work completed to-date and to be completed.
- Total disbursement from draw-downs made to-date.
- Sufficiency of balance of loan facility (or project budget) to fund balance of work to be completed.
- Amount of draw-down recommended for disbursement.
SCHEDULE MANAGEMENT AND MONITORING
As an integral part of our project management services in Nigeria, we systematically track and report the health of Projects by implementing specialist project schedule control systems. We regularly compare schedule baselines with project progress and report schedule variances to client. Our reports indicate estimated time of completion in comparison with planned completion time at every stage of the project.
- We provide timeline projections based on the pace of work and resources deployed per time; this forms a basis for budgeting and expenditure planning for our clients.
- We always emphasize the need to undertake sufficient planning at the initial stages of projects to ensure delivery of projects within promised timelines.
We identify risks to project schedule and advise project sponsors on remedial actions to be taken to keep the project within the targeted time frame and cost.
Our project audit service reduces the chance of project failures by establishing the true status of the entire project and forcing prompt recognition of mistakes leading to their correction.
PROJECT QUALITY AUDITS
An integral part of our project monitoring services in Nigeria involves providing project audits. Our project audits reveal to clients if the project results will met their objectives and if otherwise what corrective measures can be taken.
- A few of the activities we perform in our project audits are:
- We identify defects so that they can be fixed and provide recommendation to prevent future defect.
- We review and report the quality standards with respect to specifications and contract documentation.
- We Reconcile project expenditures with project budgets and disbursements.
- We review and analyse change orders and pricings
- We verify material purchases, invoices and actual materials used on project
- We verify scope of works with respect to contract documentation.
- We perform detailed quality assurance and quality control.
- We audit the internal processes set up for project which also includes Audits on subcontractors and designers.
- We monitor and measure the performance of contractors and subcontractors’ works by verifying whether such works meet project requirements and acceptance criteria and provide reports which form the basis for further payments, penalties or instructions for corrective actions to the contractors.
PROJECT CHANGE MANAGEMENT
We understand that changes in projects are almost inevitable; to this end Arch-Vision Workgroup provides a controlled and systematic way to monitor and track project changes for our clients.
- We measure and report the impact of all project changes to scope on the entire project.
- We report the impact of change on project cost, project schedule and the contract.
- We track all change requirements and report them in comparison to the business objectives and desires.
Our project change monitoring processes have proved invaluable in preventing uncontrolled changes and their negative effects on the projects we manage. Our approach to delivering project monitoring services in Nigeria involves comprehensive procedures to change management addressing issues such as:
- How to address changes
- Evaluating impact of the change and its contractual implications
- Methods of agreement to the changes
- Implementation control
- Documenting changes
- Evaluating importance and priority of the changes
- Authorisations and approvals of the changes
Our governance reviews on the projects we monitor centres on identifying potential threats to project success and providing proactive solutions to keep projects on track.
Benefits – Project Monitoring Services
1. Promotes Significant Cost Savings
Our project monitoring and control services checks fraud, eradicates waste and controls project expenditure; leading to significant cost savings all through the project life-cycle.
2. Enables better project decisions
We promote sound and quick decision making
Our independent reports and assessments provide project sponsors and clients with the basis for making informed decisions critical to project success in a timely manner
3. Prevents Project Failures
Using a project monitoring service is a proactive insurance against project failures
Our project monitoring and control services in Nigeria keep clients abreast of all project artefacts, constantly assessing risk and providing mitigation strategies.
4. Derive maximum value
We align project outcomes to expectations.
We track all project deliverables to ensure clients get maximum value for every naira or dollar invested in their projects through our project governance and control systems.
All through the project duration, we continually track, review and regulate the progress and performance of the projects we monitor.