Project Monitoring

The object of the monitoring tasks, in the context of a development, is to watch over the actions of third parties and their partners throughout the project and construction stages, ensuring that all the liabilities set out in the agreement are met.

This function CONTROLS through the work certificates the financial investments made during the
construction processes.

This function also INFORMS on a monthly basis about the effective deadlines and quality, in the light of the development status of the works, against the initial forecasts set out in the construction contracts.

They also ATTEND the work meetings, as observers of the financial entities or the developers, trying to identify and anticipate any risk involved in the development.

SCOPE

Consequently, Project Monitoring will be understood as those activities related to the monitoring of the costs, deadlines and quality of a project that is being executed and managed by a third party, in an effort to guarantee the fulfilment of the terms and conditions initially approved.

This activity may be contracted either by the owner or the banking entities, to certify their financial
expenditure.

The project follow-up begins with an exhaustive study of the project, in order to detect the main risks
involved in the development, in an effort to control them from the onset and apply the appropriate
corrective measures. A Initial Report is issued.

Progress Reports will be issued throughout the development of the works. The relevant expenditure
certificates will be simultaneously issued, including the review and approval of the invoices issued during the period.

The whole process ends with a Summary and Compilation Report to verify whether the closing of
the project has been properly executed.