GRS Group provides comprehensive Construction Advisory Services to help clients manage construction lending risk throughout the project life cycle. Our services include pre‑construction reviews, ongoing construction progress monitoring, and project close‑out assessments. Leveraging proven processes and deep industry insight, we help identify and mitigate potential issues early to protect project schedules, budgets, and investments.
GRS Group supports national lenders and equity investors with the level of project oversight, accountability, and risk management required for complex development projects. Our senior management team brings an average of 20 years of construction management experience, delivering informed decision‑making and responsive service.
We have performed Construction Cost Analyses, Construction Progress Monitoring, and Construction Completion Assessments across a wide range of asset types, including commercial and retail, residential developments, assisted living, hospitality, healthcare, and industrial projects. Our repeat client relationships reflect our ability to consistently administer and manage projects nationwide using a systematic, disciplined approach—from initial planning through successful completion and loan payoff.
Pre-Construction Plan and Cost Analysis
GRS Group’s team of licensed engineers and registered architects provides pre‑construction due diligence services to support informed decision‑making on proposed development projects. Our reviews evaluate construction costs, budget adequacy, and schedule feasibility, helping clients assess project viability prior to funding or the start of construction.
Pre‑Construction Plan and Cost Analysis services include:
- Preparation of an independent construction cost estimate and evaluation of the proposed scope of work, construction timeline, and planned improvements.
- Review of the development budget, schedule of values, and construction schedule for accuracy, completeness, and consistency.
- Assessment of the status and adequacy of construction documents, including architectural and site plans, design specifications, and contract documentation.
- Evaluation of soils and environmental reports to determine potential impacts on construction methods, schedules, and project costs.
- Verification that building department plan reviews are complete and required permits have been secured to allow commencement of construction and ongoing progress.
Construction Progress Monitoring
GRS Groups organization is ideally suited to provide Construction Progress Monitoring on a nationwide basis. Our field representatives perform site surveys on a predetermined schedule to ensure that the project is proceeding according to schedule, in compliance with plans and specifications, and that disbursement requests are within budget and assigned to the appropriate line items. Subsequent to the site visit, GRS prepares a written report compiling the results of the site survey, in correlation to the disbursement request. While performing the site survey, GRS conducts the following reviews:
- Verify the percentage of work completed in relation to current payment application and progress schedule
- Confirm inventory of stored materials either on or off site
- Evaluate the sufficiency of funds for the project completion
- Forecast potential problems related to the quality and/or workmanship and project management
- Review and evaluate change orders to determine any impact on the project budget, schedule, and compliance to the originally proposed development
- Examine quality control measures and compliance with regulatory agency and building codes, as well as the recommendations and specifications included in the original construction loan analysis
- Provide recommendations as required
Construction Completion Assessment
GRS provides the expertise required to evaluate the progress to date and assess the remaining costs to complete the construction as specified. This is particularly useful to clients who need to re-evaluate construction projects which may have gotten off-track. The project information is evaluated along with a visual assessment of the construction project. The assessment includes a review of the construction contract with an analysis of the adequacy of the remaining undisbursed construction budget and contingency funds to complete the project as well as a review of contractors’ lien waivers and inventory of purchased materials stored on or off-site. Lenders and note purchasers can then assess the costs and risks of completing construction.
