There are a number of reasons that projects don’t go to plan. Economic recessions, insolvencies, loan defaults and poor management can all have a negative impact on your projects and investments. These issues can quickly escalate and as a project sponsor, you can find yourself with escalating costs, decreasing revenues, disputes and a damaged reputation.
Understanding what to do in these circumstances is crucial to rescuing a project. At Vercity, we can assess your project and evaluate how cost-effective intervention would be. In such cases, it’s important to be sure that spending more money on external support will be effective and to know what that support should look like.
Rapid project assessment
The first thing Vercity will do when considering a project rescue is carry out an assessment of your project and associated project vehicles. In evaluating how the project is progressing in a wider context, we can gather data and develop a structured plan.
In analysing the information, we can assess the critical components of the project, such as budget, project plan, resource planning and scope definition.
Whether your project is failing due to supplier under performance, construction issues, or general mismanagement, at Vercity, we avoid a blame culture. By eliminating commercial barriers and posturing, we can identify the root cause of an issue and recommend the most effective remedial action.
Interim management to support and stabilise
At Vercity, we have the capability to provide interim management and support when issues arise, at project and SPV level.
We’ll support your projects by drawing on our multi-disciplined team, including, SPV management, financial management, technical advice and strategic asset management, to name a few.
We’ll help you drive the required improvements and communication with all parties. Together, we can strengthen your relationship with project stakeholders, the contract supply chain and the wider community, ensuring your reputation remains intact.
Targeted solutions to secure delivery
Vercity can provide support in a number of ways, whether through budgeting, providing technical and management expertise, or arranging replacement providers. We bring a wide range of skills to our project rescue capability, with a focus on helping you maintain project revenue streams and mitigating losses.
With a background in asset and risk management, we have the expertise to secure delivery and ensure you meet your contractual obligations.
We work across complex facilities and contractual arrangements, bringing a unique depth of knowledge able to manage all the delivery and financial implications considering your best interests.
In rescuing a project, we’ll help keep your investments safe and help you mitigate risk and manage cashflows through joined-up thinking.
Protecting the value of the investment
In the current market, protecting the delivery of projects and underlying investments has never been more important. In rescuing a project, we’ll help keep your investments safe and help you mitigate risk and manage cashflows through joined-up thinking.
With our experience of managing projects, assets and investments that are going through distress, including the loss of key delivery partners, will provide assurance that we will plan and manage towards the best possible outcomes.
We invest in resources, systems and procedures to protect your assets, provide you with opportunities to gain competitive advantage and to help drive your decision-making at all levels.