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Funds Control/Funds Disbursement

Construction Funds Management

Effective funds management plays a crucial role in guaranteeing timely and cost-effective completion of construction projects. Partner's team of construction experts possesses comprehensive knowledge across all facets of the construction process, enabling proficient administration of the Funds Management and Disbursement Program essential for maintaining project momentum.

What's Involved in a Funds Control Program?

An independent document and cost review, also referred to as pre-construction document and cost analysis, can help to mitigate these risks by evaluation of:

A Funds Control and Disbursement program encompasses all the necessary activities for managing the payment application and disbursement process within a construction project.

From a construction risk management perspective, prudent financial practices dictate not only the segregation of funds for distinct projects but also meticulous scrutiny of payment requests within each project. Each draw request must be accompanied by appropriate invoice support and documentation to validate its accuracy and appropriateness.

Prior to disbursing any funds, it's crucial to assess the project's progress to ensure it remains on schedule. This typically involves Construction Progress Monitoring, which evaluates the completion percentage for each line item, often integrated with the Funds Control process.

The documentation inherent in a Funds Control and Disbursement program significantly enhances transparency, particularly during regulatory audits.

The responsibilities of a third-party risk management firm typically include:

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