Project recovery services
We provide project recovery services and advice to banks and other financial institutions working with distressed and troubled construction projects.
Our project recovery services involve working closely with funders and borrowers exposed to distressed projects to provide a detailed technical construction audit service coupled with strategic recovery advice.
Identifying distressed projects
All projects are unique - distressed and troubled construction projects are no exception. If a project is big enough to require a formal project turnaround, the first thing that needs to happen is that you have to recognise that the work to recover the troubled project is a project in itself.
Early warning signs of a distressed project:
- Increased levels of disputes with sub-contractors and suppliers
- Supply chain payment failure
- Delayed or reduced monthly valuation certification
- Delays in the finalisation of subcontractors' or suppliers' appointments by the contractor
- Progress of work slowing both on site and off site
- Insufficient resources deployed on the project
- Lack of proper supervision
- Communication breakdown
How we can help
We provide clarity and certainty through a project evaluation audit service, and when necessary develop a project rescue and recovery strategy.
We analyse projects for the key blockers to progress and provide cost-based mitigation options.
To clear a path to the completion of distressed construction projects, we identify and prioritise problems, understand the risks, propose suitable mitigation strategies and shape our monitoring process to help mitigate risk and optimise time and cost.
Our project recovery services include:
- Determining the current state of the troubled project
- Assessing the causes of the problem
- Validating the scope of work remaining
- Making recommendations on how to rescue the troubled project by addressing the causes of the original problem
- Validating the cost, effort and duration to complete the project under its original or revised scope
- Detailed condition surveys including quality assessment and safety reports
- Providing project and cost management services to assist in completing the project
Our comprehensive service is applied across all industry sectors, including residential, high rise, infrastructure, commercial, retail, industrial, hospitality and education, across the whole of the Middle East, India and Africa.