1. Contract Vetting
When you are presented with a contract, we cannot overstate how important it is to review it properly so you fully understand the terms on which you will be working.
By having the contract vetted by a Quantum specialist, any clauses, terms and conditions that may seem unfavourable will be flagged up so you can decide whether to challenge the client and seek a revised contract, or proceed in the knowledge of what you must do and by when.
2. Monthly Variations Audit
Quantum will review your variations on a monthly basis. Variations may be at different stages. There may be some you are aware of that will be coming up for action; we will make sure you have notified your client in accordance with the requirements of the contract.
We can evaluate variations submitted to the client and help get them agreed for payment. The benefits of this are better systems, more complete accounts and fewer disputes.
The knock-off effects are better commercial awareness for staff, introduction of concepts such as quantum and liability categorising, agreeing figures as figures.
3. Monthly Progress Audit
We can evaluate your progress against the contract programme. Why do this? Simply put, if a delay is identified early on then there is time to correct it and put actions in place to catch up.
The benefits of this are better planning and more accurate reporting, giving protection against allegations of delay and fewer disputes about delay. The by-product is better commercial awareness for the staff, but more importantly, this evaluation will serve as early warning of possible dangers for elevating matters to management for commercial decision-making.
4. Project Liability Audit
With this service we can provide a full end of job cost forecast. This puts you in a much better position early on during your client negotiations and discussions. In addition, this service helps to ensure that future cost liabilities are properly reported and provided for.
The benefits are better cost control and early warnings for management decisions on damage prevention or limitation, and profit maximisation.
5. Final Account Control
This service is so important to ensure that Final Accounts are submitted on time after completion of jobs - properly prepared first time with appropriate back-up.
By having this structured and monitored approach to the submission of accounts, you will narrow the scope for issues arising using appropriate techniques and it helps you to avoid disputes.
We find that this helps Contractors and Sub-Contractors more broadly by providing commercial training and the introduction of dispute control techniques such as preparing Scott Schedules, prioritising effort through risk management and probability assessments - this reducing 'flogging dead horses' (which we see so often) and improving QS efficiency.
6. Project Ledger Management
This service helps you keep track of the bigger picture, with cash flow monitoring and management account preparation based on job status and probability assessments. It also assists Financial Managers to monitor and control all income from jobs.
We will set up control sheets and carry out high level reviews, challenging the QS's predictions of job returns, as well as health checks on specific jobs where problems have occurred and/or could be avoided.
7. Retention Fund Management
Always a bone of contention, retention fund management can take a way to pain often experienced by Contractors and Sub-Contractors after work on site has finished. With our service, we keep a ledger of retentions due, monitoring defect correction and chasing down debtors.
The benefit of this service is to provide Contractors and Sub-Contractors with better retention recovery and control, supported with regular advice to management on commercially/accurately accounting for non-recoverable book debts.