Project monitoring is distinct from both project management and construction monitoring, and can be defined as: 'protecting the client's interests by identifying and advising on the risks associated with acquiring an interest in a development that is not under the client's direct control.'
This guidance note considers the typical things that a project monitor will advise upon, including:
- land and property acquisition matters;
- statutory consents; competency of the developer, its team and any proposed project management systems;
- financial appraisals;
- development, finance, consultancy and construction agreements;
- construction costs and programmes; and
- design and construction quality.