NEW PROJECT OVERVIEW
When a decision has been made to go ahead and execute a project, we will undertake a review of the main contract documents to identify potential issues that may give rise to a contractual dispute in the future.
A review of the FEED documents and the Scope of Work will be carried out to identify potential areas of misunderstanding arising from the level of detail and explanation of responsibilities contained in the FEED. This is the commonest source of technical dispute in Design/Build projects today and accordingly deserves close review and attention.
The organisation, project execution, finance and supply chain system solution (to include controls), compliance and cost recovery) and health, safety and environmental plans will be reviewed to ensure that they are adequate for the particular nature and location of the project. If specific targets are part of the execution plan e.g. value engineering possibilities, maximising in – country spends or in-country recruitment to a pre- determined requirement, we will also comment on the viability of these targets as presented or, with regard to value engineering, provide our own suggestions for consideration.
If required, third party specialists will be introduced by Project Forensics LTD to undertake specific reviews of high level cost and time schedule probabilities based on the specialist’s extensive data base of similar projects executed in the past. This can be illustrated in e.g. bell curve formats.
It is also possible to arrange a review of the contact terms and conditions by a specialist firm of construction lawyers on a fixed fee basis.
Any assignment undertaken by Project Forensics LTD will be carried out in collaboration with the project management team appointed by our client so as to minimize any disruption to the initial set up phase of the works.
In the event that a contractual dispute occurs, we will undertake a detailed review of the claim and response to the claim as well as the main contract documents, the FEED documents and the Scope of Work, Monthly Progress Reports and all relevant contract correspondence. If necessary, Field Superintendents notebooks will also be reviewed.
If required, third party specialists will be introduced by Project Forensics LTD to undertake e.g. technical discipline and quantum and time schedule analysis.
We can also arrange for a specialist firm of construction lawyers to be retained should this be required.
It is likely that the contract will contain an arbitration clause(s) covering Amicable Resolution closely followed by an Arbitration Tribunal Process, binding on both parties, should the Amicable Resolution process be unsuccessful in settling the dispute.
We will closely assist and attend both processes as necessary including arranging expert witness reports until the dispute is settled.
PROJECT VIABILITY ADVICE FOR INVESTORS
For investors considering a substantial undertaking in an oil and gas, petrochemical, pipelines or other large infrastructure project which is not usually part of the investor’s core business interests, we can provide a comprehensive close support service through to a final investment decision point.
As a first and critically important step, we will review the prospect Feasibility Study and it’s key assumptions to establish the viability of the proposal and give our opinion as to whether the investor should be looking at it seriously or not. This can include assessing that the requisite systems are in place to ensure cost control, compliance and cost recovery.
Should the prospect appear worthy of serious consideration, we will work closely with the investor’s legal advisors and lead financial arrangers through the development of a Preliminary Information Memorandum which will enable (say) 70% financing and Construction All Risk as well as Advance Loss of Profit insurance cover. To enable financing and insurance, we will retain the services of a specialist company to undertake reviews of cost and time schedule probabilities based on the specialist’s extensive data base of similar projects executed in the past. They will also present alongside us to lenders and insurers as required.
If necessary, we will present to the relevant Competition Commission should the investment be related to a particular industry divestment in order to establish competency on the part of the investor.
Should a decision be taken to proceed with the prospect, we can provide, on request, project set up services described in 1) NEW PROJECT OVERVIEW.