Marsh Advisory's Risk Consulting Solutions has construction experts who understand the dynamic risks that construction project teams face. Our project advisory services focus on the processes required to effectively and efficiently plan and manage projects, improve transparency and accountability among stakeholders, control cost, and avoid, minimize, or resolve disputes during the construction project lifecycle.
Our comprehensive experience in the construction sector drives our service philosophy—helping further the success of project stakeholders as they work toward common cost, schedule, and quality objectives. We consult on project planning and implementation throughout different levels of an organization to help clients achieve superior project returns and minimize the risk of disputes.
Returns below expectations, chronic disputes, and surprise results to important projects are all indicators of underpowered risk management programs and uncontrolled variability in program inputs and/or project processes.
Marsh Advisory provides tools and techniques to help executive management achieve effective project governance. Project governance success can be measured by management's ability to have a positive influence on the outcome of a project.
Although other consulting firms may offer project risk management services, our solutions are distinct because they are customized specifically to meet the individual needs of each client.
We provide assessments of project procedures and recommendations to facilitate the client’s effort to close the gap between its current processes and industry best practices, which help determine the likely cause of chronic problems in projects. Our unique and systematic tools identify high-risk projects during planning and execution to elevate management’s awareness of these "special needs" projects.
Through project-integration, Marsh Advisory incorporates current project data directly into its risk management system which can reduce the system’s periodic update effort by up to 90 percent. Our repeatable and trainable solutions are structured around methods which identify and calculate risks based on the same project control metrics used to measure and forecast schedules, progress, and cost.
Whether conducted before construction commences, periodically during the performance of construction, or at close-out, our performance auditing services can help clients increase their return on capital project expenditures. Our services include:
- Reviewing contracts for potential risk exposures.
- Evaluating the reasonableness of estimates and budgets.
- Assessing project controls in place.
- Validating schedule duration and logic.
- Verifying that bonds and insurance policies are updated and in place.
- Tracking project expenditures and approving payment applications.
- Monitoring scope change and reviewing change order requests.
- Providing independent project updates.
- Preparing cost forecasts and cash-flow analyses.
- Recommending performance solutions to protect project budget and schedule.
Marsh Advisory can also assist with evaluating the economy, efficiency, and effectiveness of the management structure, policies and procedures, and project controls of your organization or department.
Project Controls and Management Services
Marsh Advisory can help develop critical path methodology schedules, project cost accounting systems, change order processes, and other controls. We can assess the reasonableness of existing controls at any point during the project lifecycle against industry best practices. Our professionals provide ongoing project management support, including time and cost management, earned calue management systems implementation, and other state-of-the-art project controls services.
Claims are, by nature, a means to recover additional costs stemming from changes or damages which were not anticipated within the terms and conditions of the contract. If left unmanaged, these claims can evolve into costly disputes, often leading to profit-draining litigation. Our professionals support our clients in an effort to prevent further escalation with services including:
- Claims strategy development.
- Costs and schedule monitoring and auditing.
- Technical analyses.