The most common failures and or neglectful practices that lead to distressed, troubled, under or non performing construction projects include, but are not limited, to the following:
- The day to day construction operations are not managed properly or at all;
- Detailed construction schedules are not formulated and or followed properly;
- Overall strategic construction guidance and direction is not provided;;
- Schedules and construction budgets are not developed and or followed;
- Construction project strategy, logistics and contracting methods are not developed and or followed;
- Construction cost control reporting systems are not properly formulated or followed;
- Actual construction costs are not updated regularly or followed;
- Engineering working/shop/as built drawings and documentation are not coordinated or managed properly;
- Their is inadequate liaison between construction site personnel and local and statutory authorities;
- Construction contracts are not properly negotiated, co-ordinated and/or managed/administered;
- The activities of consultants, contractors and suppliers are not managed properly;
- Regular construction progress meetings are not held or developed;
- Construction site personnel fail or neglect to keep Owner/Developer and or Lender properly informed of the status of the Project;
- Site staff approve change orders for extra work without authority;
- Excessive and improper charges are billed to the project and paid;
- Complete and proper books of account and records are not kept.
In the face of crisis and uncertainty, GeoFocus provides leadership, experience and technical expertise. Our 40-year trading record acting for investors and occupiers and our experience in the provision of technical due diligence and project management, enables us to understand the issues that are associated with project failure and suspension. With the priorities established and the issues defined, we progress to creating, and then implementing, a recovery plan.
