Cost & Commercial Management
The components of a successful project lie in the teams’ experience and skill in identifying and defining every risk on the projects’ path per meticulous controls. In the project’s earliest stages, we identify possible threats and develop a thorough risk management strategy outlining how risk will be managed, classified, and evaluated. From there, we perform continual monitoring throughout the project, including both qualitative and quantitative analysis. By examining the trends and remaining focused on all areas within a project, Abbott ensures any approaching risks potentially impacting the project schedule or budget are brought to the forefront for examination and actionable steps to conduct immediate mitigation.
Cost & Commercial Management
Change order management is a crucial component of a projects’ construction phase. Differences in site circumstances, omissions, errors, construction phase value proposals, delays, or owner modifications can all cause changes. Regardless of where they stem from, all additional expenditures must be evaluated by an expert for their merit and implications to the construction budget and schedule. Abbott has an established change order management procedure in place for detecting, evaluating, and documenting changes that occur throughout the course of a project’s execution. Our approach utilizes techniques that aid in determining which changes to implement and tracking tools to monitor the overall impact on schedule and budget. We pride ourselves in guaranteeing clear documentation throughout the project, immediately proving the clarity and credibility of the change order.
Cost & Commercial Management
A well-defined commercial strategy should be the heart of every business. Abbott examines whether the project is commercially viable in relation to the project and the future of business’ needs, values, goals.
Accurately define your project needs with a reliable feasibility study that delivers a thorough and informed opinion at the early phases of a project, along with alternative options, if necessary. We use cost benchmarking data, along with cost modelling to examine design alternatives and uncover the most cost-effective solutions within the project’s scope.
Maximize opportunities in today’s real estate markets with an expert analysis of the components within your financial models and a proven value investment and development framework. We believe investment strategy is subordinate to the development strategy and should be consistent with its goals and directions. Our team implements an effective investment strategy adaptation not when the changes emerge and the company feels the negative effect or recognizes the lost revenues, but when they are merely anticipated.
Cost & Commercial Management
In planning, designing, and constructing projects, the cost is paramount. Abbott plays a major role in preparing, planning, and managing accurate construction costs within the budget. Cost planning informs and controls design development and construction costs to guarantee alignment with available funds. This service allows us to keep a close eye on costs throughout the project, from in-depth cash flow modeling for accurate creation and planning to continuous financial controls that navigate complexity and maintain predictability.
Engage Abbott early in the project development phase to reconcile planned versus actual expenditures and ensure you maximize gain by effectively managing the opportunity costs of investments while mitigating any external risks. We work collaboratively with our clients, applying technical and management expertise to develop cashflow curves that accurately calculate key performance indicators, for both the project and program levels.
Achieve financial transparency through our first-hand experience across the project portfolio while reducing the risk of project fraud, waste, and abuse. Abbott’s team maintains best in class cost predictability by:
– Conducting detailed reviews with testing and tracking of payment requisitions.
– Verifying budget updates.
– Transfers and allocation of contingency funding.
– Confirming project expenditures against cash flow projections.
Cost & Commercial Management
As the needs and expectations of businesses and stakeholders are evolving, so is the insight we provide our clients. Digitization and changing project requirements both contribute to major shifts in project costing and performance. Navigating this complexity requires a strong level of trust and transparency within a project team. With transparency and quality at the heart of our firm, we use cutting-edge technology and a wide range of experience to deliver trust across all financial activities and reporting.
