At TPM Williams, we offer continuous processes and systems to ensure the most effective project cost and contract solutions. From the initial concept to project completion and final payment, we support our clients with an informed evaluation of competing costs and help identify the best value criteria, ensuring that critical decisions are made correctly.
TPM Williams takes a full and proactive role in supporting feasibility teams, providing new ideas, and identifying innovative and cost-effective design solutions. Our feasibility studies ensure that the information informs and validates business decisions, selects the best value options, identifies any risks or opportunities, and provides an indicative budget for the development appraisal or business case.
Financial Feasibility
Critical decisions involving value and cost are made at project inception. A comprehensive feasibility study that considers all aspects, such as function, design, risk, location, and market conditions, is essential to a successful project.
TPM Williams takes a full and proactive role in supporting feasibility teams, providing new ideas, and identifying innovative and cost-effective design solutions. Our feasibility studies ensure that the information informs and validates business decisions, selects the best value options, identifies any risks or opportunities, and provides an indicative budget for the development appraisal or business case.
Our Financial Feasibility services shall include:
- Review of project constraints
- Development evaluations
- Risk and opportunity review
- Benchmarking analysis
- Cost and value analysis
- Review of logistics and phasing cost impacts
- Project option evaluations
Cost Planning & Pre-Contract Cost Control
Cost planning is vital to the successful planning, design, and construction of projects and is aimed at providing the best value solutions. It enables capital cost budgets to be set and provides a framework to accommodate and manage changes to the brief and design.
We have learned from our experience in the delivery of successful projects that it is important to clarify and establish the brief with the client and design team at the earliest stage possible. We can draw on statistical data collected from previous projects and current market cost information.
Through our on-screen quantity take-off tools and BIM integration with CAD systems, we can respond quickly with detail when required.
A well-established cost plan allows the client and design team to understand where and how monies have been allocated. It provides the essential framework within which design and cost changes can be considered and balanced between differing elements and priorities.
Our Cost Planning & Pre-Contract Cost Control services shall include:
- Cost plans and capital expenditure budgets
- Project option studies
- Contingency analysis and management
- Risk and opportunity schedules
- Market condition surveys and trending
- Design development monitoring
Procurement & Contract Advisory
Successful project delivery requires the right foundations. An informed procurement strategy and careful selection of the appropriate contract arrangements are essential to any project and large capital program.
Our view is that proper procurement strategy is fundamental to a project’s success and may influence the appointment of professionals and affect timescales as well as the potential project outcome. TPM Williams has a wealth of experience in the accepted procurement methods available in the industry and can recommend a particular route depending on client and project needs.
Our in-house procurement and contracts specialists advise on contractual matters and support our ability to expertly service clients when it comes to the drafting and agreeing of clauses that may be necessary to reflect individual client preferences and circumstances.
Our Procurement & Contract Advisory services shall include:
- Procurement and contract strategy advisory
- Advisory on specific procurement procedures
- Project-specific drafting and contract tailoring
- Contract amendments and interpretation of all standard forms
Tender Documentation & Appraisal
The creation of tender documentation is often underestimated, yet it plays a crucial role in ensuring the success of any project. At TPM Williams, we recognize that some key industry skills are at risk of being overlooked. To address this, we offer comprehensive training for quantity surveyors, estimators, and contract management specialists, ensuring they are equipped with the expertise needed for excellence.
The procurement and contract advisory will have determined the required form for the tender document that might include full bills of quantities, specifications, and drawings, or the client’s requirements. Whichever form is adopted, our documents will always be prepared with care and attention to detail which is critical for its use as a key cost control document. Firstly, in creating market confidence in the project and thereby obtaining competitive prices, and, secondly, in forming a solid basis for the administration of the.
We offer the full range of tender document production, usually as part of a wider cost & contract scope but quite often as a one-off task.
Our Tender Documentation & Appraisal services shall include:
- Drafting of methods of measurements
- Bills of quantities preparation or evaluation
- Pre-tender estimate preparation or evaluation
- Project preliminaries / general requirements preparation
- Schedule of values preparation
- Tender procedure and management
- Preparation of front-end tender documents including instruction to tenders, conditions of contract, form of tender, appendices, model of agreements and guarantees
- Tender evaluation, reporting, negotiation and award
Post Contract Cost Control
A strong cost control service is essential to prevent good work from being undone once operations begin on-site. Since projects often span an extended duration, the service must not only start with high quality but maintain that standard throughout the entire project lifecycle.
At TPM Williams, dedication and a proactive approach define our post-contract services. Rather than passively waiting for information and merely reporting outcomes, we actively engage as integral members of the project team and address issues as they arise, ensuring unapproved expenditures are avoided.
Upon project completion, we guarantee that contractors and consultants are compensated accurately in line with the contract. Negotiations are conducted fairly yet firmly, avoiding hasty agreements made solely to expedite project closure.
Our Post Contract Cost Control services shall include:
- Variation preparation, pricing, evaluation and negotiation
- Cash flow monitoring and trending
- Payment application evaluation and recommendation
- Regular financial reporting
- Final account preparation, negotiation and settlement
Life Cycle Cost Analysis
Our life cycle costing advisory measures the economic impact of built assets over a building’s life span, helps deliver value for money and reduces costs associated with the day-to-day operation and maintenance of the facility. Our combination of leading experts and robust data enables us to achieve the best value for our clients throughout the whole life of a facility.
We select the best design and specification in terms of life cycle value, and this ultimately has additional advantages when managing assets or when selling facilities.
Our Life Cycle Cost Analysis services shall include:
- Life cycle cost models for new and existing buildings
- Optimization of whole life costs
- Net present value and sinking fund calculations
- Benchmarking of life cycle costs
- Durability advisory
- Building component option appraisals
Value Management
The key to obtaining the greatest value from a construction project is to review the decision-making process as early as possible. The value benefit curve decreases over the timeline of a scheme. TPM Williams therefore welcomes being involved with value reviews at the earliest opportunity, followed by a regular series of interventions as the project proceeds. We have first-class systems for drilling down into the rationale for expenditure, and we test whether better value solutions exist.
Although early intervention is important, projects may change their funding availability or other circumstances may arise requiring a rapid review of the project at later stages. TPM Williams will lead any such review and find the most appropriate means of bringing down costs.
Underpinning all of our work in this area is that a whole life cost approach will be taken at all stages. TPM Williams recognizes that the simple removal of capital cost without reference to the long-term consequences is not acceptable. The life cycle implications will always be part of any reporting on the cost-benefit of any value engineering proposal. Complete independent value management services are also provided by our Value Engineering team.
Our Value Management services shall include:
- Reviewing budgets and cost plans
- Participation in value engineering workshops
- Assisting in alternative design studies
- Assisting in alternative specification studies
- Detailed costing of value engineering proposalsCapital and life cycle cost assessments