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The CIS Needs for Cost Analysis Reports
- 1. Lender contacts CIS inquiring about Cost Analysis services.
- 2. CIS and Lender determine which type of Analysis is needed.
- 3. CIS requests the following necessary information from the Lender/Owner to begin the analysis:
- a. Project Plans: This includes the civil, structural, architectural, electrical, HVAC and any detail sheets. (It is always nice to be working off a set that has been approved by the local municipality, if available.)
- b. Construction Line Item Budget: The proposed cost of construction broken down into line items detailing their individual costs.
- 4. CIS would also like the following information if available:
- a. General Contractor Agreement & Schedule: A copy of the agreement between the contractor and the owner as well as a copy of the project schedule which should be a part of the contract documents.
- b. Project Specifications: This would include anything that is considered part of the construction document package which describes the specific systems or materials to be used for the project. These are normally provided on commercial construction and are compiled in the “Project Manual”.
- 5. The full list of items that are helpful for Cost Analysis Reports also includes:
- a. Schedule of Materials: This is used primarily in residential construction and details the specific materials and fixtures to be used on this specific residence.
- b. Sub-Contractor Bids: Any bids that have been received from any of the sub-contractors which support the budgeted line items. Any outstanding balances due project contractors.
- c. Construction Change Orders: Any approved changes that would have an impact on the construction budget line items.
- d. Requests for Information: Any RFI’s that have gone from the owner / contractor to the design team. This will give us an idea on upcoming costs on proposed design changes.
- e. Receipts for Pre-Paid or Pre-Ordered Items: Receipts showing any deposits, pre-pays or advances for materials that have been ordered or pre-paid.
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