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New Guide for Construction Progress Reporting and Monitoring
1. Scope
The purpose of this guide is to de?ne good commercial practice in the United States of America for providing a baseline while performing construction loan monitoring services, inclusive of upfront Document and Cost Reviews (DCR) and Construction Progress Reports CPRs) for commercial real estate improvement by performing a walk-through inspection, reviewing project related documentation and providing a Construction progress report as outlined within this guide.
Keywords
Loan Monitoring, Construction Progress Reporting, Construction Risk Management, Construction Inspection Reporting
Rationale
We are looking to standardize the Construction Progress Reporting process from the beginning of construction until the project is complete, occupied by the Owner. The process for construction will very greatly for each project, however the Construction Progress Reporting process remains the same all project types. The processes includes : inspection the project, interview the project manager and/or superintendent, request appropriate documentation, review of provided documentation, communication of the findings for the inspection/document review, and issuance of the report with the findings and approval of funds.
