core services
The Acumen team is not just an office-based consultancy. It is construction contracting background, means that ‘coal face’ understanding and advice is provided on all aspects of project delivery including design, buildability, programming, contracting, quality control, construction defects and contract dispute resolution. These fundamentals often overlooked by conventional advisers and are challenges requiring real knowledge and experience. Acumen are equipped to engage in these challenges.
Core services include:
• Project Management
• Cost Consultancy
• Contract Administration
• Development Management
Project Review and Appraisals
PROJECT CONSTRAINTS
Site
Understanding the physical constraints posed by a particular site and achieving cost-effective solutions is one of the foundations for a successful project. Our team has a wealth of experience delivering value from challenged assets.
Planning
Review of the planning status along with opportunities for securing additional value through the planning process. We have an in-house team with a proven track record of securing planning gain.
Financial
Understanding the financial constraints on a project and de-risking the project for example through phased delivery is a key consideration in the current environment.
Legal
Over the years the Acumen team has formed relationships with a number of legal firms of the requisite size and experience. Many of these firms are based outside of central London and are in a position to provide high calibre legal advice at a competitive cost.
Time
Often forgotten in project planning Acumen view is that projects to not proceed to a successful conclusion on their own, they need to be driven forward. Acumen has a ʻcan doʼ attitude that will inject pace into the development process to ensure that all goals are achieved.
PROJECT APPRAISAL
Feasibility Analysis
In the current environment continued analysis and reevaluation of schemes key to resolving portfolio issues. The key to producing realistic appraisals is a sound understanding of the key inputs into the appraisal:
Revenues
Acumen has in-house resources and strategic links with firms to provide realistic revenue assessments.
Fees
Our in-house team has a detailed understanding of the key design professions and can ensure value for money.
Construction Costs
Having constructed some of the UKʼs most ambitious and prestigious residential, hotel and commercial projects over the past 20 years, Acumen has detailed knowledge of the true construction costs as opposed to construction prices quoted by so many other Project Management and Quantity Surveying practices.
Sales and Marketing Costs
Acumen has strategic alliances with leading marketing and sales organizations which will provide realistic and deliverable costs and strategies.
Programme
In the development industry, no one understands the value of time better than contractors. Acumen background in project delivery will ensure the pace necessary to secure a successful project.
FUNDERʼS/INVESTOR REPRESENTATIVE
Investment Analysis
The pre-investment detailed analysis and report upon particular investment opportunities, including specific development finance or portfolio acquisition. Analysis would include, as appropriate review of planning constraints, budget/cost allowances, delivery programme, construction processes and asset management procedures and adherence thereto.
Due Diligence
The post-investment on-going (generally monthly) analysis and report upon a developerʼs adherence to a project specific business plan and Loan Agreement. To review the appropriate release of funding, progress against programme across all deliverables, build quality, accrued and projected costs against facility and fulfilment of contractual conditions and planning constraints/ obligations.
Project Audit
A one off post-investment analysis and report on a specific development. This service would encompass much of the services provided under the Due Diligence process, but would be provided where an independent review was required to establish the extent of any risk or exposure to the Funder. Acumen would provide either focussed analysis upon a particular risk or a general review, as required.
Project Monitoring
A resultant service that would arise where a funder believes a more hands on approach is required where an unacceptable level of risk or exposure has become apparent. The actual service to be provided would be dependant upon the risk, and would normally involve working alongside the Developer to assist in the managing and negation of the specific risk.
Distressed Project Recovery
Acumen has the ability, due to its experienced personnel and problem solving approach, to step in, complete a development and minimise the funderʼs exposure where the developer has become unable to fulfil its obligations under the Loan Agreement. This ʻdisaster recoveryʼ service can potentially realise significant benefit to the funder, and provides an alternative to a simple fire sale and the likely crystallisation of significant loss.
Project Delivery
FEASIBILITY/DESIGN STAGE
Consultation
Our approach focuses on thorough pre-planning of the design process, key to this is early consultation with all the appropriate stakeholders including public bodies, agents, funders and specialist contractors to determine the key design parameters and constraints.
Early Works Packages
Our experience has shown that a small investment at an early stage of a project can render significant cost and time rewards as the project develops. Early site investigation, site remediation and enabling works packages provides valuable information for the design team and cuts out costly re-design work at a later stage in the design process.
Cost Planning
A detailed cost plan is a key ingredient in an efficient design process, we prepare cost plans which are bespoke to the requirements of the project and the other members of the design team. Having established the project cost plan we set tough but realistic cost targets for individual packages of work controlling costs at this detailed level ensures that the overall design is not subject to last minute cost cutting which rarely render the required savings.
Design Programme
Preparation and regular monitoring of a detailed design programme injects pace into a process which can otherwise loose its way. The design programme incorporates regular reviews with all of the different stakeholders in the project to ensure that design progress remains on track.
Appointments
We believe in clearly setting out the duties of all of the members of the design team. We ensure that all consultants are appointed under a bespoke agreement which clearly defines the scope of their work and the time, quality and cost constraints within which their services will be delivered.
Design Review
We believe that good design is an iterative process whereby the design is refined over a period of time from the initial concept through to the finalised scheme. Our design work shops focus on specific areas of the design to ensure that the overall design progresses in a balanced fashion at pace.
PROCUREMENT STAGE
Options
Our experience in Main Contracting and Construction Management procurement options and variations on these themes ensures that the most appropriate procurement method can be employed on a particular project.
Contractors, Sub-contractors and Suppliers Our track record provides an insight into the relationships that we have forged at a personal level with many of the leading Contractors, Sub-contractors and Suppliers in the UK Republic of Ireland and Central Europe. These relationships built up over many years can be used to benefit every stage of the project.
Tendering
We have in house tendering experience at the highest level from both the Contractor and Clients perspective and this has given us a unique insight into this critical stage of any project. We understand the significance of leaving “un-brought” items of the project and the difference between contractors costs and contractors prices.
Documentation
Key to a successful tender process is the quality of documentation we review tender documents with a Contractors eye to ensure that they clearly set out the rights on obligations of each of the parties going forward.
Contracts
We have a wide knowledge of the standard forms of contract in use in the UK, Republic of Ireland and internationally. We ensure that all of the Contractors and Subcontractors on the project are appointed under detailed executed agreements which clearly set out their obligations in terms of time, quality and cost.
Funding
Our experience as both Contractor and Developer has provided us with an in-depth understanding of the critical role of project funding. We understand the importance of funding documentation, collateral warranties and drawdown procedures in the overall development process and recognize the important contribution that the funding partner can make to a project.
IMPLEMENTATION STAGE
Progress
Our experience as Contractors and Developers has given us a unique understanding of the value of time. We understand how to inject pace into the project and the benefits that a project with momentum can have for all of the parties involved.
Quality Management
We believe that Quality is a state of mind that must run through the project from start to finish. That is why we place so much emphasis on good quality design, tender and contract documentation. At the implementation stage we focus on site presence to ensure that quality standards are maintained supplemented with a paper based quality management system rather than the other way around.
Cost Management
As both a Contractor and a client we are keenly aware of the difference between controlling costs and reporting costs. Our philosophy is to continually look for better more cost effective solutions throughout the life of the project. This continuous process of value engineering right up to the practical completion identifies savings which go to offset unforeseen costs which will inevitably arise during the delivery of a major project. This allows us to actively control costs as opposed to simply reporting on them.
Handover Documentation
We are well aware of the value of handover documentation which is both accurate and accessible. Poor handover documentation can undermine the end value of an asset particularly in the current climate and outstanding issues relating to insurances, planning obligations and title can render a project almost unmarketable. We have the experience and the industry contacts to formulate an appropriate strategy to address such issues at an early stage.
Completion
Formulation of an effective handover strategy at the completion of the project can be key to further refine the financial performance of a scheme. We have a wealth of experience in developing phased handover strategies which can facilitate early release of income whilst maintaining the quality standards of the project.
Claims Management
We work with suppliers and professionals to ensure that good relations are maintained throughout the development process. Where difficulties are encountered we have the experience to resolve these before a dispute crystallises and ensure that progress is maintained. Where circumstances dictate we have the experience to be able to review, identify and close out contractual liabilities with professionals and contractors.