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Construction Monitoring - A Multi-Purpose Tool for Risk Management

Pre-Construction Phase

Construction monitoring services can begin in the pre-construction phase of a project in the form of document and cost review. The pre-construction document and cost review may include reviewing the project specific construction loan documents, construction contracts, the construction scope and schedule, the construction budget, or construction plans and specifications. A “kickoff” meeting with all interested parties can be used to provide a framework of detailed procedures for quickly processing documents to expedite funding throughout the project. Understanding the plan, schedule, and budget from the beginning of a project can significantly improve its success.

Construction Phase

During the construction phase, construction monitoring services focus on the progress of a project and keeping stakeholders apprised of the progress. Regularly scheduled assessments in the form of site visits, construction monitoring reports, and document reviews are conducted to evaluate construction progress and assist in protecting the collateral for the project during construction. Monthly or regular project assessments are beneficial in numerous ways. They help to increase the likelihood that short-falls are identified early, to assist in verifying that the funds that are advanced are less than or equal to the construction progress, to notify stakeholders of deviations from the approved project schedule or budget, and to minimize the risk that mechanic’s liens will be filed against the property. Actively monitoring a project during construction significantly increases the chances of early identification of potential problems, which helps to ensure solutions are in place before major complications occur.

Completion Phase

At the completion of the construction phase, construction monitoring services can assist in verifying that the project was completed as envisioned by the stakeholders and as outlined in the construction contracts or loan documents. Project closeout support may involve assisting in the collection and compilation of final lien waivers, as-built drawings, operation & maintenance manuals and warranty documents, and Certificates of Occupancy and Substantial Completion. Ensuring the collection of required documents as a project is completed is a final step in the comprehensive risk management plan used throughout the construction loan process. 


EAEI provides clients with the full range of these Construction Monitoring Services. Ranging from regularly reviewing and documenting the construction status to detailed, in-depth reviews of construction documents to performing routine site visits of the construction site, our construction monitoring services can be tailored to meet the individual needs of a project based on the requirements of the project stakeholders and investors.


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