Capital Planning & Consulting
Exponent’s capital planning and consulting professionals provide program and project-level support, helping clients manage the complexities of high-value, high-risk capital projects. The Exponent team has significant experience in assisting owners and agencies through all phases and aspects of capital programs, including development, implementation, and performance management. Exponent works with clients to develop reporting procedures and other processes to facilitate the identification and mitigation of potential risks and resolve existing issues by recommending mitigation and/or corrective strategies. Our professionals understand the importance an effective and feasible capital plan has on the achievement of your business objectives.
Exponent’s Capital Planning and Consulting Services include :
- Process and Controls Improvement
- Budgeting and Estimating
- Project Risk Assessments
- Critical Path Method (CPM) Schedule Preparation and Review
- Probabilistic Modeling
- Capital Planning Due Diligence
Process and Controls Improvement
Exponent assists clients with managing major capital projects through the development and/or enhancement of project controls essential for effective planning, budgeting, and administration. Exponent also aids clients with the review and evaluation of change management systems to improve efficiency in the preparation, review, and evaluation of change orders. The review and evaluation process also serves as a vehicle to simplify the task of identifying and estimating changes with respect to scope, schedule, and cost. The tools that these services provide facilitate a proactive approach to the identification and mitigation of engineering, construction, and financial risk, while reducing the potential for disputes and litigation.
Budgeting and Estimating
Reasonable budgets and estimates are an essential element of an effective capital plan and a successful construction program or project. Exponent’s professionals are experienced in developing and evaluating budgets and estimates for projects of all sizes. Exponent is able to provide independent assessments of client budgets or work with clients to develop and refine a budget or estimate, including the evaluation of scope changes. Exponent also provides a contingency review to ensure budgeted contingencies are adequate based on a determination of project risks and uncertainties.
Project Risk Assessments
Every construction project possesses a unique set of challenges and risk levels. To recognize the appropriate level of risk tolerance for each venture, Exponent works with clients to tailor the Project Risk and Opportunity Assessment process to suit the level of detail and specific needs of each project. In combination with Exponent’s expertise in diverse technical disciplines, this approach affords a total understanding of risks associated with the project and allows for the establishment of a comprehensive mitigation plan to manage said risks. Through this process, Exponent’s professionals collaborate with the client’s key project team members to:
- Evaluate the cost estimate, schedule, and execution plan for the project;
- Identify and assess project risks and opportunities;
- Quantify the probability of occurrence, potential cost and schedule impact for each risk or opportunity; and
- Establish a project risk management plan, including the development of risk mitigation strategies.
Critical Path Method (CPM) Schedule Preparation and Review
Exponent’s professionals have experience preparing, maintaining, reviewing and managing project schedules through the use of the Critical Path Method technique. Exponent is skilled in the development and evaluation of baseline, as-built, revised/recovery/ acceleration and enterprise schedules, as well as preparing and analyzing updates and revisions to existing schedules. The professional construction experience of our consultants enables Exponent to provide schedule preparation and review services, to ensure that schedules are in compliance with contract specifications, conform to specific project requirements, and are being used as effective management tools. In the event of a dispute, our team utilizes our scheduling expertise to assist clients with timely resolution of time-related claims.
Advanced risk modeling techniques, including probabilistic, enterprise, 4-D, and 5-D scheduling enable project stakeholders to identify, quantify, and mitigate project risks during the pre-construction phase, when the impacts of recognized issues are most easily assuaged. The risk modeling, scheduling and clash-detention services offered by Exponent provide tools to help manage uncertainties through the lifespan of a project and are also useful in detecting design conflicts or sequencing issues, which could make the difference between the timely delivery of a project and a delay. Exponent’s approach to probabilistic modeling, coupled with the experience and expertise of its professionals, provides a detailed insight into project risk areas and practical knowledge of effective risk management, s allowing clients enhanced confidence levels and project delivery that is on time and within budget.
Capital Planning Due Diligence
The Capital Planning process is multi-faceted. Exponent is able provide assistance to owners and/or developers in the preparation of the overall program/project plan, offer an independent assessment of the integrity and feasibility of the comprehensive plan, or evaluate select components of the plan, including cost estimates and schedules. Exponent fosters a team mentality and collaborates with clients to identify their needs, define the scope of necessary assistance, review, and/or assessment services, and provide a cost effective solution for the support they require.