Plan & Cost Review (PCR)
Smart Site Reviews specializes in assisting construction lenders and equity providers to identify and manage construction risks throughout the construction loan or equity investment underwriting process. During our Plan and Cost Review, we analyze, evaluate and provide feedback on the project documents to identify apparent scope, budget, schedule, documentation, coordination, and funding issues. We review the budgeted project hard costs and soft costs (if applicable) and the apparent scope coverage of the drawings and specifications for purposes of understanding the construction scope and evaluating the budget and schedule. In addition, we assess budget accuracy and identify risks to evaluate the sufficiency of budgeted contingencies. Smart Site Reviews’ principals deploy their decades of construction draw site review, construction, engineering, real estate, development and legal experience to identify project risks and potential mitigating measures. In short, we help you confirm that your project is feasible and that your investment or collateral is protected.
As part of our Plan and Cost Review, we review an array of project documents and information, as applicable and as provided by our clients:
| Development-related documents and reports reviewed | Construction-related contracts and documents reviewed |
Environmental reports, including Phase I and II and ACM, cultural assessments and others | Construction budget (including contingency) and cost breakdown |
| Geotechnical reports | Draw schedule/front loading identification |
| Wetlands studies | Construction schedule |
| Entitlement and zoning reports | Construction contracts |
| Permits and other approvals | Plans and specifications |
| ALTA/ACSM surveys | Major subcontractor agreements |
| Utility “will-serve” letters | Civil engineer and architect contracts |
| TIAs | Other design professional agreements |
| Assessment of project team capabilities | Permits |
| Other third-party reports | Construction testing and inspections agreements |
Other related services: