Project Turnaround, Workout and Recovery
Anser work directly for project funders, either monitoring the activities of the developer client and his team, auditing the project, supporting the developer on behalf of funders, or taking direct control of the project in the event of lender default to work-out to problems and restore as much value as possible to the asset.
Essex College
Anser were engaged by a national contractor to carry out an audit on a £6m new build, design and build project for the College.
The works involved construction of classrooms, a performance art theatre, kitchens and a restaurant within the college’s existing grounds. Works were being carried out within a very constrained site and to a tight programme aimed at completing the works ahead of the start of the new academic year.
We identified delay and escalating costs. We then carried out a detailed review identifying the reasons for the delay and increased cost and making proposals to recover or mitigate the problems. As a result, the contractor re-programmed the works and agreed a revised completion date with the Client. The project was completed successfully.