Project Monitoring
Monitoring and progress review service
CCi’s highly skilled teams assess the progress of clients’ projects to ensure all involved parties understand its status and can correlate project status to milestones relevant to CAR / EAR policies. Our Delay in Start-Up (DSU) project monitoring is performed remotely by reviewing progress reports and schedules to identify performance trends. Risk engineer interfaces and on-site visits can also be undertaken to provide greater insight and context to the reliability of reported progress.
We accurately and cost-effectively monitor and benchmark progress on fast-moving projects, track this progress against Scheduled Commercial Operation Dates (SCOD) and report project gains or slippages and key performance indicators in relation to DSU and the period of insurance.
Robust and detailed monthly progress reports are provided on pre-loss DSU construction projects or portfolios and on damages and repairs. These are easy to implement, requiring existing project records, and can be combined with the monitoring requirements of lenders and funders.
Quantitative risk analysis
As a supplemental service to our DSU project monitoring, we are able to provide bespoke Quantitative Risk Analysis (QRA). We generate project performance models based on the latest available project data, with the model continually updating as the performance of the project varies over its lifecycle.
This performance model describes the changing dynamics experienced in the situations present throughout construction project monitoring. These models are then used to create a probabilistic outcome of expected activity/project completion, via a Monte Carlo analysis method. This process generates a continuous distribution of outcomes, each with a specified probability of occurrence, giving a statistical indicator of project performance, such as target completion date.
Benefits of our Project Monitoring service
Independent reporting and repository
Clear and concise independent reports that provide an overview of project performance, in direct relation to SCOD, are prepared monthly. These reports enable trend identification and an up-to-date view of the project’s status before any incidents occur. Our repository allows secure and prompt access to project records in the event of a claim.
Risk management
Implementing proper Project Monitoring protocols is a crucial element of effective risk management. These protocols help evaluate if a project is progressing according to the plan, if it is likely to meet the policy end date, or if an extension is necessary. By carefully assessing and addressing potential risks early on, clients can navigate uncertainties and mitigate disruptions, cost overruns, and other obstacles that could compromise the project’s successful completion.
Efficient claims resolution
One of the main objectives of the Project Monitoring Service is to avoid time-consuming and costly retrospective progress analysis following an insured incident. This measure helps prevent prolonged disputes and promotes efficient claims resolution, leading to accurate and timely settlements and increased client satisfaction.
Quality assurance
Thorough evaluations of the construction schedule’s quality, integrity, and suitability for monitoring are conducted to ensure that deliverables adhere to or surpass industry standards. These evaluations also include identifying critical phases of the delivery schedule (key performance indicators) that require concentrated attention for ongoing progress monitoring purposes.
Why choose CCi?
Our teams’ scheduling expertise and unrivalled global experience of DSU claims, combined with the experience gained from acting on a wide array of complex projects, allows us to provide a service where claims can be settled promptly, efficiently, and cost-effectively. Utilising advanced project monitoring tools, we provide real-time information for informed decision-making. Our approach is customised to meet each client’s unique requirements, ensuring we deliver tailored services that exceed expectations.
Contact us
Would your business benefit from our expertise in Project Monitoring? Contact our team to learn more about our proven track record of helping clients manage projects successfully worldwide.
Example Projects
Thailand
