Contract Management & Change Control
Cost Umbrella team has gained experience by providing professional expertise for all type of contract such as fixed price, design and build, lump sum turnkey, remeasured and cost-plus projects. In recent past projects, we have provided EPC services for some PPP projects and helped clients to establish the financial models. Cost Umbrella team is expert of preparing interim payment application (IPA) and certificates (IPC) following the stipulated contract conditions. We are well experienced in using different payment certificate templates in the construction industry defined by different consultants and client. Our team maintains well organized and updated payment logs which help the project stakeholders to generate the progress reports.
The growing demands of construction industry have given rise to more dispute, delay and consequently more claims. CU team provides services for contractual and technical disputes and recommend different arbitration and conciliation methods to solve the disputes. CU typically involves procedures such as mediation, adjudication, arbitration, or a combination. Over the period, CU team has established an effective variation order procedure flowchart which is transparent and well defined. We provide our professional services for claim management whether issued by client or contractor.
CU team has provided cost management services for all phases of project execution starting from initiation to the settlement of final account. We are expert in preparing final payment invoice by repeating whole cycle calculations. We provide services of preparing the final account and reporting against the last cost/financial report by engaging the stakeholders in final account meetings as per RICS defined standards.
Contract Administration:
Cost Umbrella team has gained experience by providing professional expertise for all type of contract such as fixed price, design and build, lump sum turnkey, remeasured and cost-plus projects. In recent past projects, we have provided EPC services for some PPP projects and helped clients to establish the financial models. We understand that each project is different and procurement method needs to be innovative and efficient to deliver the best outcome for the client.
Invoice Management (IPC/IPS):
Cost Umbrella team is expert of preparing interim payment schedule and certificates following the stipulated contract conditions. We are well experienced in using different payment certificate templates in the construction industry defined by different consultants and client. Our team maintains well organized and updated payment logs which help the project stakeholders to generate the progress reports. Likewise, we do the sub-con invoicing and keep comprehensive record.
Dispute Management:
The growing demands of construction industry have given rise to more dispute, delay and consequently more claims. CU team provides services for contractual and technical disputes and recommend different arbitration and conciliation methods to solve the disputes. CU typically involves procedures such as mediation, adjudication, arbitration, or a combination. Large or complex projects may have additional tiered dispute resolution procedures , dispute resolution boards, steering committees and partnering meetings.
Variation Orders / Project Claims:
A variation order is a written agreement to change the work from that agreed in the contract. In general, variation orders may involve change in scope, time, and material. Over the period, CU team has established an effective variation order procedure flowchart which is transparent and well defined. We provide our professional services for claim management whether issued by client or contractor.
Settlement of Final Account:
CU team has provided cost management services for all phases of project execution starting from initiation to the settlement of final account. We are expert in preparing final payment invoice by repeating whole cycle calculations. We provide services of preparing the final account and reporting against the last cost/financial report by engaging the stakeholders in final account meetings as per RICS defined standards.