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Services & Solutions> Scope Of Services > Descriptions Of Our Services > Project Management Approach > Project Charter - Establish Goals and Objectives > Project Charter - Identify Project Constraints > Establish Program > Establish Project Budget and Schedule > Select Resources > Manage Project Team > Manage Scope > Manage Schedule > Manage Budget > Manage Construction Phase > Manage FF&E and Project Turnover > Project Accounting |
 Project AccountingInsurance Review All contractors and consultants engaged for the project who will be visiting the site or who will have liability for their professional services must have appropriate general liability, worker's compensation, automobile liability, excess liability, and where appropriate, professional liability insurance. Our project staff will review insurance certificates and will only recommend payment of invoices for those consultants and contractors whose insurance is in place and up to date. Monthly reports will be run to make sure that the insurance is in place prior to recommending payment of invoices. Contracts The committed amounts of each contract will be tracked in our project cost accounting system. Committed amounts will not be exceeded without authorization from the owner. Invoice Coding Our project accounting staff will enter invoices into our project cost accounting system upon review and coding of the Project Director. The system can be queried for a variety of reports by contract, by cost category and other criteria. Pay Applications On a monthly basis, o ur project accounting staff will assemble all invoiced received, reviewed and recommended for payment by the owner into a pay application consistent with the industry standard format. Pay applications will indicate all costs incurred each month along with the total costs to date and the balance remaining. |
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