Friday, 12 December 2014

Cost Consultancy - A partner in managing costs

Cost Consultancy - A partner in managing costs
Cost Consultancy as a service encompasses cost estimating, cost management, the production of bid and contract documents, the financial administration of building contracts and dispute resolution.
A full fledged construction cost consultancy service comprising quantity surveying, feasibility studies, cost planning, value engineering and cost option studies.
Cost consultants can devise and manage the procurement process, bench marking costs against other projects.
Masters also undertakes assignments of cost management and monitoring of the project to ensure that the project is being developed to the client’s Requirements within the best value proposition, quality parameters and budget. Masters’ cost management team establishes an effective centralized cost management and change monitoring system for all stakeholders in the project.

Pre-Contract Cost Advice and Cost Management
Masters believes that an initial budgetary assessment of the project puts into perspective its long-term feasibility. We can undertake this by providing a well-defined cost/benefit determination based upon the preliminary design proposals. Our cost management teams meticulously gauge feasibility by working closely with our design, engineering and contracting experts to prepare an accurate cost plan and cash flow that includes not only assumptions of forward purchases of materials and equipment but also reflects upon the comparative costs of alternatives of designs, materials and methods and that can be employed to alter the existing cost indications. As the project advances, it is closely monitored to take into account all sizable cost changes that are incurred on account of alterations in design, contractual adjustments and budgetary modifications.
Tendering and Documentation
In addition to Pre-Contract Cost Advice and Management, we help our clients in tendering and documentation. Our contractual experts help in selecting the most efficient building contract partners to work on your project, administer the tendering procedures along with preparing and executing all required documentation in consultation with engineers, designers as well as your legal and insurance advisors.

Post Contract Cost Control and Monitoring
Masters’ cost management team provides project cost control and administrative services based on assessments and forecasts of expenditure and final cost including cost checks and costs of variations on a regular basis. Our Cost Managers keep you updated by providing monthly cost reports that help in the development of progressive cost plans that are reflective upon assessments and forecasts of expenditure and also facilitate revisions of cash flow, thus ensuring rigorous monitoring of project expenditure.
Post Contract Financial Management
As your Client Representative, Masters represents your best interest in interactions with contractors, major sub contractors and all other consultants. Our cost managers prepare monthly cost plans, which include valuations and progress payments for contractors, materials and overheads along with final cost reports prior to closeout.
The presentation of final accounts to the clients incorporates all financial concerns of the project, including but not limited to the monetary impact of project delays, prolongation claims and acceleration costs and the final resolution contractual claims.
Some of our Cost Consultancy Projects are as under:
- HBS Office, Mumbai

Know more about Cost Consultancy services India by contacting us at - 

Head Office:
Masters Management India Private Limited
New Udyog Mandir,
Kamanwala Chambers No.2,
Unit No. 7, Ground Floor,
Mugal Road, Mahim (West),
Mumbai - 400 016
Phone : +91 22 64567600

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