At VERTEX we ensure project integrity and quality every step of the way. From meticulous draw review and warranty assessment to mid-construction evaluation, closeout inspection, and project rehabilitation review, VERTEX offers a range of expert services designed to safeguard your construction projects. Explore how our thorough analysis and diligent observation ensure successful outcomes and peace of mind for your ventures.
CRITICAL CONSTRUCTION MONITORING AND REVIEW SERVICES INCLUDE:
PLAN AND COST REVIEW
Prior to commencement of construction, equity investments, and loan closing, VERTEX typically reviews project documentation to evaluate contractual agreements, geotechnical conditions, municipal approvals, quality and completeness of drawings, construction costs, and schedules. VERTEX’s unbiased opinion highlights areas of concern and enables our Clients to make rational business decisions early on.
PROJECT REHABILITATION REVIEW
VERTEX provides Project Rehabilitation Review services, which include a comprehensive on-site observation with key stakeholders to understand the current project status and review the rehabilitation scope and budget. We conduct a general review of plans, contracts, and various documents, such as geotechnical reports, environmental assessments, zoning reports, and historic tax credit applications. Additionally, we offer a comparative cost analysis, prepare capital expenditure spreadsheets, and analyze the soft costs spent by the borrower, providing commentary on estimated figures and the inclusion of typical line items based on similar projects.
VERTEX offers Mid-Construction Review services, which include an initial site observation and project status discussions with the delivery team. We conduct a comprehensive review of plans, contracts, and various documents, such as permits, change orders, and lien waivers. Additionally, we assess project schedules, provide a narrative description of construction components, prepare checklists, and perform cost analyses to ensure cost reasonableness and completeness of documentation.
CONSTRUCTION DRAW REVIEW
VERTEX provides construction draw review services that involve three main areas:
- Reviewing the construction draw package, which includes assessing the reasonableness of the construction draw request, budgets, invoices, change orders, pay applications, logs, permits, reports, and various other documentation related to the project.
- Conducting periodic onsite observations with relevant stakeholders (Architect of Record, Owner/Developer, and General Contractor) to assess construction progress and provide pay application recommendations.
- Offering a general review of materials stored onsite, providing progress photos, performing monthly soft cost reviews, and commenting on the remaining budget for each line item and overall adequacy of remaining funds.
PROJECT CLOSEOUT REVIEW
VERTEX offers Project Closeout Review and Report services that involve reviewing project plans and completing building and site checklists. We perform onsite observations with key stakeholders to confirm project completion, provide a comprehensive report on the final construction status, and gather relevant documentation, including certificates, punch lists, affidavits, and surveys. Additionally, we supply progress photos to record the completed work’s status.
Review plan and specifications and prepare a project design and construction checklist to compare to the actual construction observed in the field. During site reconnaissance, construction professionals will take photographic and/or video documentation of work and any deferred maintenance or poor construction practices.