Construction Law/cost reimbursement contract
we are working as a project manager of a cost reimbursement contract in Dubai. It consists construction of villa community, infrastructure and other amenity buildings.Interim valuations are approved as per the actual invoices of contractor for his staff, labour, plant, etc.The Employer wants to know the financial progress for each and every category. Eg: for a villa, for a particular road,etc. Even though we have physical progress at site, it is hard to distribute the certified payments in to sections in such a way. We can only distribute them as per percentage completion but realistic figures cannot be obtained on this method. Can you please explain me a suitable way of doing this.
Thanks & Regards,
I would advise you to prepare a cost plan for each of the packages by using the prevailing rates.
Thereafter you may use the percentage to distribute the valuations which will be more realistic.
You may contact us on firstname.lastname@example.org; should you need us to provide monthly services to prepare such monthly reports on a reasonable fee basis.