MONTHLY COST REPORTREPORTING PERIOD 01-MAY-15 TO 31-MAY-15

By

Riyas Sainulabdeen

Sr. Cost Director

INTRODUCTION

• CLIENT :

• CONSULTANT : MORGANTI GROUP

• CONTRACTOR :

• COMPLETION DATE : 21ST MARCH 2016

• CONTRACT VALUE : SR. 500 MILLION

• APPROVED VO : NIL

• ANTICIPATED VARIATIONS : NIL

• EXTENTION OF TIME : NIL

• CURRENT ANTICIPATED FINAL ACCOUNT : SR. 500M

1.1 MAIN COST SUMMARY

• MAIN CONTRCT COST SUMMARY AND PROJECT BUDGET STATUS ARE GIVEN IN BELOW SLIDES.

SCOPE

   CONTRACT VARIATION PROJECTED VARIANCE AGAINST

BASE BUDGET REVISED BUDGET VALUE ORDERS FINAL COST REVISED BUDGET

(SAR X 1000) (SAR X 1000) (SAR X 1000) (SAR X 1000) (SAR X 1000) (SAR X 1000)

Tower 105,666.76 97,214.74 97,214.74   97,214.74 -8,452.02

Facade 92,271.99 86,841.42 86,841.42   86,841.42 -5,430.57

Basement 23,379.28 21,353.72 21,353.72   21,353.72 -2,025.56

Fit-out 66,046.75 67,917.27 67,917.27   67,917.27 1,870.52

MEP Services 168,221.76 188,226.70 188,226.70   188,226.70 20,004.94

Site works 7,288.43 1,346.12 1,346.12   1,346.12 -5942.31

Provisional Sum 4,125.00 4,100.00 4,100.00   4,100.00 -25.00

Design & Engineering 33,000.00 33,000.00 33,000.00   33,000.00  

             

TOTAL 500,000.00 500,000.00 500,000.00   500,000.00 0.00

                             

 

PRJECT NAME: CONSTRUCTION 

         

  

 PRJECT NO:  

             

 DATE: 30/4/2015  

   

 

     

 LEVEL 1 - PORTFOLIO REPORT  

               

 TABLE 1 - PROJECT BUDGET STATUS  

      

       

 CATEGORY BUDGET TENDERING CONTRACTS

 

 

Budget Category Description

 Approved

Budget(SAR x 1000)

 

 Approved

BudgetOverrun

(SAR x1000)

 

Rev

 Latest

RevisedBudget (SAR

x1000) 

 AwardedPackages

(SAR x1000)

 

 Packages

Yet to be

Awarded (SAR

x1000)

Tendering Early

Warnings &Risk

Allowance (SAR

x1000)

 Estimate to

Complete (SAR x1000) 

 Variance to

Latest Approved

Budget (SAR

x1000)

 Approved Variation Orders

(SAR x1000)

Contract Dept.Early

Warnings &Risk

Allowance (SAR

x1000)

 Anticipated

Final Account

(SAR x1000)

 

   

   

   

 

Building Construction 500,000.00       500,000.00    

500,000.00      

500,000.00

 

 Car Parking         TBA              

 

 

Consultancy Fee 23,089.00       23,089.00     23,089.00       23,089.00  

 Authority fees                        

 

Others                         

Contigency                         

TOTAL (SR) 523,089.00     0.00 523,089.00     523,089.00 -     523,089.00

 

2. CHANGE MANAGEMENT

• CURRENTLY THERE IS NO APPROVED VARIATION TO MAIN CONTRACT PACKAGE

2.2 PROVISIONAL SUMS

• THE CONTRACT PRICE INCLUDE PROVISIONAL SUM OF 4 MILLION SAUDI RIYAL FOR THE FOLLOWING ITEMS.

PROVISIONAL SUM CONTRACT ALLOWANCE AWARDED VALUEBALANCE TO

PLACESTATUS

Internal lighting fixtures for ground floor lobby

1,000,000.00     

Internal features stairs 1,000,000.00      

Increasing CAM unit capacity 30% more than the existing capacity

1,000,000.00     

Hard & Soft Landscaping 1,000,000.00     

TOTAL 4,000,000.00      

3. CLAIMS

• THERE IS NO AGREED CLAIM UNDER THE MAIN CONTRACT

4. CONTRACTS

• CONTRACTS FOR MAIN WORKS HAS BEEN SIGNED EXECUTED BY THE PARTIES ON 4TH DECEMBER 2013

• CONTRACT FOR DESIGN & CONSTRUCTION OF CAR PARKING HAS TO BE FINALIZED FOR THE PROJECT.

NO. DESCRIPTION AWARDED DATE CONTRACT TYPE VENDOR SIGNATUREEMPLOYER SIGNATURE

COMMENTS

1 Main Works 27/Oct/13Re-Measured Contract

4/Dec/13 4/Dec/13Contract documents signed & executed by the parties

2Design & construction of Car Parking

TBA        

             

5. INSURANCES / BONDS

• THERE IS NO ANY SUBMISSION OF INSURANCE / BONDS DURING THE REPORTING PERIOD

• NO ANY DUE DATE FOR THE EXTENTION / RENEWAL OF EXISTING INSURANCE / BONDS WITHIN THE PERIOD

• DETALS OF SUMMARY IS BELOW

NO. DESCRIPTION CONTRACT PROVIDED VALUE EXPIRY

1Advance Payment Guarantee No. ------ dated 18. 12. 2013 from -------Bank

Till complete recovery of Advance Payment

50,000,000.00 15-Feb-16

2Advance Payment Guarantee No. ------ dated 04. 05. 2014 from ------Bank

Till recovery of Advance Payment

50,000,000.00 15-Feb-16

3Bank Guarantee No. ------- dated 05.11.2013 from -------Bank.

Till the end of DLP 25,000,000.00 15-Feb-16

4Contractors All Risk Policy No. ------- dated 06. 01. 2014 from ----- Cooperative Insurance Company

Construction Period 1/1/14 to 1/4/16 1-Apr-16

Maintenance Period 2/4/16 to 1/4/17 1-Apr-16

         

6. VALUATION / INTERIM PAYMENTS

• CYRRENTLY THERE IS NO OVERDUE PAYMENT TO ----------.

• PAYMENT FOR THE MONTH OF JANUARY WILL BE DUE ON 16TH MARCH 2015

• COMPLETE SUMMARY OF PAYMENTS BELOW

NO. CUMULATIVE VALUE CONTRACT VALUE

% CERTIFIED COMPLETION

STATUS

TO DATE DATE

1 86,500,000.00 500,000,000.00     Payment (Advance) released

2 21,788,973.60 500,000,000.00 17.30%    

           

           

           

7. CASHFLOW

• CURRENTLY THERE IS SLIGHT VARIATION IN ACTUAL AND FORECASTED CASHFLOWS

• HISTGRAM FOR FORECASTED, ACTUAL AND CUMULATIVE CASHFLOWS SHOWN BELOW

Cash Advance

May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 (Rtn. Rls.)

0.00

10,000.00

20,000.00

30,000.00

40,000.00

50,000.00

60,000.00

70,000.00

80,000.00

90,000.00

100,000.00

0.00

100,000.00

200,000.00

300,000.00

400,000.00

500,000.00

600,000.00

86,5

00.0

0

21,7

89.0

0

15,3

89.0

0

14,5

63.0

0

15,8

39.0

0

11,2

06.0

0

19,0

07.0

0

21,9

34.0

0 33,0

63.0

0 43,7

36.0

0

28,8

08.0

0

27,6

89.0

0

28,2

69.0

0

42,6

36.0

0

15,4

14.0

0

11,9

93.0

0

12,1

65.0

0

50,0

00.0

0

8650

0

Plan ActualCum.Plan Cum.Actual (ALL VALUES IN SARx1000)

8. RISKS

CURRENTLY THE FOLLOWING RISKS WERE NOTICED FOR THE PROJECT.

• PROVIDING UTILITIES SUCH AS POWER & CHILLED WATER FOR THE BUILDING

• FINALIZATION OF REVISED SCHEDULE

• FINALIZATION OF IFC DRAWINGS

ITEM NO.

DESCRIPTION MITIGATION DATE RAISED VALUE (SR) STATUS

 1 Providing utilities such as power & chilled water for the building

 TBA    TBC   On going

 2  Finalization Revised schedule  TBA   TBC    On going

 3  Finalization of IFC drawings  TBA   TBC    On going

           

           

PROJECT NAME:CONSTRUCTION

PROJECT NO:PIC F 8101

DATE

ISSUES AND RISK TRACKING LOG

Date RaisedVendor

Scope of Contract

Description of Issue/Risk

Mitigation Required

Probability of Occurance

Commercial Impact if

Occurs

Estimated Cost if

Ouuurs (EW)

Aount to include in

Cost Report

Source of Risk

Responsible for Action

Comments

Date 

       High/

Medium/LowHigh/

Medium/LowSR SR      

        Providing utilities    Low  High  TBC  TBC  Client    

      

Finalization of revised schedule 

  Low  Low   TBC TBC Cont/

Consultant    

      

Finalization IFC Drawings 

   Low Medium  TBC   TBC  Consultant    

                        

                        

                        

                        

10. PENALTIES & DELAY DAMAGES

• ARTICLE 39 OF THE CONDITIONS OF CONTRACT DESCRIBES THE CIRCUMSTANCES WHEN

THE CONTRACTOR SHALL BE LAIBLE FOR DELAY DAMAGES.

• THE PENALTY SHALL BE APPLIED IN 3 STAGES DEPENDING ON DELAY PERIOD.

• TOTAL FINE IMPOSED MAY NOT EXCEED 10% OF THE CONTRACT VALUE.

• IN THE EVENT OF A DELAY EXCEEDS A PERIOD OF 132 DAYS, THE EMPLOYER RESERVES THE RIGHT TO RECOVER THE MAXIMUM OF DELAY DAMAGE WITH IMMEDIATE EFFECT.

• CURRENTLY THE CONTRACTOR IS NOT LAIBLE FOR ANY PENALTIES.

STAGE START DATE SAR/DAY TOTAL SAR COMMENTS

MAIN WORKS

0 - 41 Days of delay 22-Mar-16 154,321.00 6,327,161.00  

42 - 81 Days delay 2-May-16 308,642.00 12,345,680.00  

More than 81 - 132 Days 11-Jun-16 617,284.00 31,327,159.00  

TOTAL     50,000,000.00