‘Protecting all parties interests in assessing and monitoring risk, including independent financial modeling to stress test all scenarios in construction activities’.

What does it involve?:-
The Bank Monitors role is to provide impartial advice by undertaking reviews and appraisals to ascertain the nature of the proposed construction development and to outline the risks associated with it to the Client. This process is usually completed in two stages:-

1. Initial Audit/Appraisal Stage: This stage of the development, involves understanding of  the project, and identifying the risks that are of relevance to the client.
2. Development Stage: Once the funding is approved and the project is underway the Bank Monitor will ratify expenditure, Monitor the performance of the Contractor and Professional Team, approve development expenditure, and Report on same.

Why use an independent Bank Monitor?:-
Due to the ever changing, diverse and complex nature of the modern Construction Industry, it is essential to have Monitoring experts who will provide independent and impartial assessment of the project as it progresses and in doing so, give the client the managing tool for risk and for protecting their interests objectively. As such, the individuals who are most equipped to deal with, and advise on such tasks are Construction Professionals who possess the fundamental knowledge of the intricacies of the development, design and construction process. This results as an early warning system for the client by anticipating potential issues which may effect the delivery of the project.

Why Harris Coyle Breen?:-
Harris Coyle Breen are actively engaged in providing Bank Monitoring services on a wide range of construction projects. With our dedicated in-house specialist Monitoring Team,. We adopt a holistic approach to Bank Monitoring and complete project budgeting. In this regard we have the expertise to develop and monitor all project budget components, from land costs through to finance. With the back-up of our other internal specialist areas of the company, our Monitoring Team can draw upon the experience and expertise where necessary to provide a ‘one stop-shop’ for our clients.

This competitive advantage has proven very successful on all of our Bank Monitoring projects to date. Both lenders and borrowers alike, feel they are in a ‘safe pair of hands’, and appreciate the benefit of having Harris Coyle Breen as Bank Monitor, as we understand clearly the interface between construction costs, project budgets and financial loan agreements.

Our Chartered Professional led monitoring team provide services to:-

• Funding Institutions, which will acquire a scheme as an investment upon completion.
• Tenants and/or Purchasers which enters into a commitment to lease or purchase a property upon completion.
• Bank or other development finance company where a loan matures at the end of the development period.
• Grant Funders.
• Private Finance initiative funders and end users.

Technical due diligence is provided on a wide range of projects with our Project Monitoring Team delivering added value to the client and wider development team through our diverse sectorial experience and understanding of the key risk and value drivers of developments.

With a proven track record of delivering technical due diligence and project monitoring services to the financial sector, ensuring practical advice and guidance to establish bank security and to minimize and manage risk throughout the development. Through our awareness of the marketplace by having an involvement in a variety of different works and acting for all parties to the construction process our project monitor undertakes a key role in identifying and helping to mitigate risks associated with the development process. Our Team understand the wider issues affecting the entire development process.

Harris Coyle Breen possess the fundamental knowledge of the intricacies of the development, design and construction process. We provide accurate, impartial and concise advise to our clients, and act as the ‘eyes and ears’ of our clients before, during and after the development process. The key benefits of our Monitoring Team to any client includes:-

• Enhanced Risk Management;
• Enhanced Financial Management;
• Enhanced Programme Management; and
• Enhanced Quality Management.

This service results in providing protection for our clients interests, by improving the probability of delivering the product, on time and within budget.