During the Pre-Construction Phase, AEI is tasked with preparing a Construction Risk Assessment (CRA). The general purpose of a CRA is to assist our client in assessing the level of preparation and due diligence of a proposed construction or renovation project. Although our assessment is not intended to remove risk from the project, we assist our clients in identifying areas of risk in regard to finishing the project on-time and within budget and offer recommendations for managing those risks. The scope of our CRA generally includes the following:
Review of Construction Documents
AEI will review and assess the general completeness of construction drawings, permits, due-diligence reports/studies, regulatory board approvals, specifications, schedules and budgets that have been prepared for the project. Our services can be provided on projects where the process of due-diligence and documentation may still be in progress. We recommend a review of a “build-set” of documents that have completed permit review and bidding. AEI will review and provide an opinion concerning the construction documents for overall comprehensiveness, coordination, and for completion of permit review and approval by local authorities.
Review of Agreements and Contracts
AEI will review and evaluate the contract between the Owner and Contractor that has been executed for the project. AEI will review contract agreements in an attempt to identify risks associated with scope, payment requirements, dispute resolution, schedule, and warranty. We will also provide a review of contractor’s and architect’s qualifications based on readily available public information about the companies from state licensing boards and the Better Business Bureau.
Review of Due Diligence Documents
AEI will review and evaluate the due-diligence documents that have been prepared for the project. We will offer an opinion on the manner in which the construction documents address risks presented in the due-diligence documents. Our review of due-diligence documents typically include:
- Site analysis reports
- Survey drawings
- Availability of utility services
- Zoning/Planning Board reviews
- Geo-technical reports
- Traffic studies
- Wetland reports
- Tree delineation studies
- Archaeology Studies
- Soil percolation studies
- Environmental reports (Phase Is and IIs)
- And other pertinent documents, as necessary based upon local, state, and federal requirements.