Cost Reporting, Assurance, and Claims Management

Shay Bello

Contact for pricing

About this service

Summary

I help you navigate the complexities of project costs and contracts. From cost reporting and claims support to risk mitigation, I'll ensure financial stability and maximise value for your projects.

Process

Initial Consultation & Data Gathering
Discuss client's project, goals, specific challenges, and reporting preferences (frequency, format, etc.).
Secure access to relevant data: Financial records, contracts, invoices, project schedules, etc.
Establish secure file-sharing methods (if handling sensitive data) and agree on communication channels.
Data Analysis & Reporting
Analyse cost data, identify trends, variances, potential risks, and areas for improvement.
Choose appropriate tools: Excel, specialized software, etc., based on project scope and client needs.
Create clear, concise reports or dashboards highlighting key insights in a format agreed upon with the client.
Cost Assurance
Examine procurement practices, potential inefficiencies, alignment with budget and contract terms.
Identify areas for cost optimization, potential overspending, and risks to project profitability.
Prepare an audit report with actionable recommendations for cost control and mitigation strategies.
Claims Management
Review of contract terms related to potential claims.
Collaborate with the client and project team to gather supporting evidence, timelines, and relevant communication.
Calculate claim amounts and ensure compliance with contract procedures for submitting a claim.
Prepare claim documentation and/or a negotiation strategy, emphasizing the client's strong position.
Ongoing Support
Schedule regular updates/reviews with the client to discuss findings, action plans, and evolving needs.
Adjust reporting, refine cost assurance strategies, and provide ongoing claims support as needed.
Identify any emerging financial risks or opportunities to optimize spending for the client.

What's included

  • Cost Reporting

    Detailed breakdown of project costs, including actual vs. budgeted spend, variance analysis, and forecasts and Interactive dashboard (Excel, Power BI, or other tools) allowing clients to monitor project spending in real time with visual insights.

  • Cost Assurance

    In-depth audit of project costs to identify potential overspending, risks, and areas for efficiency improvement. Based on audit findings, a plan outlining specific strategies to reduce costs, improve budgeting, and manage financial risks.

  • Claims Management

    Thoroughly prepared claim, including supporting evidence, calculations, and persuasive narrative aligned with contract terms. Analysis of claim strengths/weaknesses, potential counterarguments, and recommendations for optimal negotiation approach.

Skills and tools

Advisor

Consultant

Cost Estimator

Adobe Suite

Microsoft Excel

Microsoft Word

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