The Senior Project Loan Monitor manages the entire project providing construction and development cost reviews for Construction Lenders during construction. They will also provide other quantity surveying roles including project proformas and cost planning advice regarding the financial feasibility of a potential construction project using the developer’s revenue projections.
Your tasks as a senior project monitor:
- Preparing regular project cost reports for Lender, including cost incurred and cash flow with review of costs-in-place, costs-to-complete, holdbacks and sources and uses of funds.
- Assess the project budget and the construction time schedule as prepared by the developer and give opinion on cost and schedule adequacy based on review of project documents.
- Review and provide advice on all cost items and trade contractor contracts/commitments to support the Developer’s project budget.
- Reviewing project finance documentation and conditions. Assist the developer to understand and comply with the Lender’s project requirements during construction.
- Benchmarking construction costs against similar projects.
- Checking developing designs against the project budget in the context of budget preparation.
- Preparing cash flow projection for project costs during construction.
- Provide opinion on the adequacy of the contingency reserves.
- Assessing valuation of construction work on site by reviewing trade contractor invoices provided.
- Review loan advance submission with supporting hard construction and soft development invoices and calculate project costs incurred
- Providing independent review and analysis of construction activities and comment on how this compares to the latest construction schedule provided.
- Review the project documents to assess the reasonableness of the Developer’s budget and give independent opinion on the overall project budget (geotechnical reports, environment reports, bonding, insurance, etc.). Through this review, identify any associated risk factors, including the monitoring the risks as the project continues.
The required qualifications for the senior project monitor:
- 8 – 10 years of related experience
- Cost monitoring
- Construction methodology
- Construction industry including development and consulting sectors
- Provincial Lien Act
- Knowledge of site safety issues – basics of fall protection
- Understanding of Standard Method of Measurement and other industry standards
- Understand construction schedules
- Ability to use MS Office Suite – specifically MS Excel
- Ability to prepare and review technical reports and summarize
- Bachelor’s Degree in Construction Management, Quantity Surveying, Civil/Structural Engineering or related field