The Follow-up Implementation of Projects
The follow-up implementation of projects is crucial to ensure that delivery aligns with the planned schedule, allocated budget, and established quality standards. At FinBi, our multidisciplinary team of engineers and experts prepare detailed reports throughout the project lifecycle, from initial to final reports.
Preliminary Report
Conducted before or at the start of project execution. It includes:
- Reviewing the approved feasibility study and financial models.
- Reviewing project blueprints and engineering drawings.
- Reviewing bills of quantities (BOQs) to ensure consistency with designs and market rates for similar works.
- Reviewing main project contracts (civil works, electromechanical works, finishing works, etc.)
- Assessing the adequacy of permits, licenses, and approvals obtained.
- Ensuring that dealings with the project contractor(s) are on fair commercial terms and aligned with market conditions.
- Reviewing the project timeline.
- Conducting a site-visit to review the project execution on-site.
- Preparing a comprehensive summary of findings and observations.
- Adjusting or expanding the scope of work, if required by the client.
Follow-up Reports
Prepared monthly/quarterly/semi-annually, or as required. They include:
- Reviewing disbursement documents (interim payment certificates, invoices, payment requests, etc.) against actual executed work.
- Conducting site visits to assess follow-up progress and validate approved payments.
- Verifying progress against the approved schedule and identifying any deviations.
- Confirming that expenditures align with the financial model and noting any variances.
- Assessing the overall physical condition and structural integrity of project elements.
- Verifying that projected administrative, general, sales, and marketing expenses for the coming period are reasonable compared with industry benchmarks.
- Highlighting any issues of potential or actual cost overruns.
- Preparing a consolidated summary report of all findings.
Final Report
Preparing the report at the end of the project includes the following:
- Reviewing disbursement documents (payment certificates, invoices, payment requests, etc.) to confirm alignment with executed works.
- Conducting a final site visit to verify completion as per contracts and previously approved reports.
- Confirming that project expenditures are consistent with the financial model and identifying any deviations if found.
- Verifying the structural integrity and safety of all project elements.
- Preparing a final comprehensive summary of findings and observations.
Contractor Capability Report
Prepared upon request to ensure a contractor’s ability to execute the project. This includes:
- Reviewing the contractor’s past track record in terms of project size, type, and execution quality.
- Reviewing the contractor’s documents, including legal registrations and classification at the Contractors’ Union.
- Reviewing the organizational structure and verifying that sufficient qualified staff are available to execute the project under review.
- Reviewing financial statements for the past three years to confirm the contractor’s ability to manage projects effectively and achieve profitability.
- Reviewing the contractor’s owned machinery and equipment to ensure adequacy for project execution.
- Reviewing the contractor’s client base (government bodies, major companies, etc.) to assess capacity to deliver different types of projects, particularly in cases of repeated assignments.
- Preparing a consolidated summary of review findings.
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The follow-up implementation of projects funded by various financial institutions (banks, leasing companies, etc…)
