Accuracy

CLIENT SERVICE » SOLUTIONS

Projects, Advisory & Disputes

Context


Since 2004 Accuracy has acquired extensive experience in advising leading industrial groups in the construction, aeronautic, transport, nuclear, oil and gas, engineering and other heavy industry sectors. In recent years we have closely monitored long-term projects to observe the trends affecting them and develop specific techniques to assess, improve and analyse their performance.

Our clients require rigorous monitoring or independent assessments of their projects in relation to a specific issue such as:

  • when changes are under consideration:  ownership transfer or scope evolutions,
  • at times of crisis: disputes, project finance restructuring or potential liquidation, and
  • at key milestones before moving on to the next stage.


Beyond specific industrial sector characteristics, major projects share common characteristics and drivers including:

  • the vital need to align time, cost and revenue planning and monitoring throughout the delivery and operation of the end product;
  • high levels of scrutiny due to the strategic nature or multiple sources of funding of the project or programme;
  • intensive capital expenditure and cash flow variances through the life cycle of the asset;
  • application of complex and sometimes conflicting corporate accounting rules: GAAP / IFRS.


Experience demonstrates that a project requires the collaboration of those who procure and finance it, those who will use or operate the end product and those who built it. Our approach combines complementary project planning & programming, accounting and financial expertise to help you make timely and informed decisions based on a clear set of facts and figures.

 

Increasingly often, long term projects experience cost and time overruns leading one party to seek the recovery of financial losses or damages from the other. Recent trends show the emergence of more frequent and formal dispute resolution proceedings where parties engage independent experts to advise them on why a project is late and has cost more than the contract sum.  The earlier these advisors are appointed the more in control of the dispute resolution process the client will be. This is because it is the most informed party in terms of the facts that will obtain a settlement of any negotiations or dispute in its favour.

 
Accuracy is able to analyse the time and financial aspects of long term projects as follows:

 
In delay terms, with an understanding of how the project was planned to be executed, and the assessment of what actually happened, we are able to establish the extent, incidence and causes of delay as it occurred throughout the life of the project.

 

In financial terms, with a proven knowledge of (i) sector specific cost structures, (ii) management accounting processes specific to long term contracts and (iii) time, cost and revenue modelling know-how, we are able to assess the financial damages resulting from delay, disruption or any breach of contract affecting a project.

 

For a given industry we are able to deploy experienced professionals, with the appropriate blend of delay and cost expertise from any of our offices.

The team


Accuracy works in teams of professionals who have the mix of project management, programming / delay analysis, financial and linguistic / geographical expertise and experience that is most relevant to the project. Many of them have served in industry and government, while others have professional service experience and hold relevant degrees and certifications in engineering, law, project management, business management and finance.

 

We offer a full range of project advisory and dispute resolution services applying complementary skills and industry expertise to provide an integrated view on process, planning /scheduling and financial issues. 

 

We operate as one team from our different office locations in Europe, Canada and India sharing knowledge and experience to form teams adapted to serve your specific needs, delivering a high quality service wherever you may be located. This flexibility makes commercial sense given that the major projects we work on are cross-border and mix several languages.

Role


We can provide you with our extensive and proven expertise, coupled with our original and tailored approach. As briefly described on typical situations below, we intervene across the project delivery life cycle.

 

Tender valuation, time & financial modelling and budget:

In conjunction with your sales and operational teams we can carry out a market analysis and assessment of strategic options; assess the planned duration of the project and budget risks; model the project timeline; model the profitability and cash flow line for the duration of the project, providing working capital requirements and margin at completion, including any maintenance periods.

 

Diagnosis:

At any point in the project life cycle we can provide a rapid and independent review of progress by assessing the current status of the project – involving a view on the actual project critical path and costs incurred - against a realistic and substantiated assessment of the remaining time and costs to completion.

 

Pre-litigation:

We provide our clients with high level quantum and delay analysis to advise on the strengths and weaknesses of a case. The aim is to enable you and your legal advisers to develop an informed negotiation strategy without incurring the costs of a detailed and fully substantiated delay or quantum analyses.

 

Arbitration, litigation:

Accuracy will act as the delay and quantum expert witness in litigation or international arbitration proceedings. We draft and submit to the tribunal independent assessment reports on time and financial related matters and are called upon as experts to give oral evidence during hearings.

Values and approach: aligning long term benefits and speed of response


Our values and approach combines entrepreneurial thinking and a working knowledge of issues with broad experience, vast resources and a diverse network of clients and contacts.


We tailor our approach to each particular project to ensure that we provide robust and objective advice and offer practical and commercial solutions. Our culture encourages teamwork, openness and regular communication.


Our objective is to provide rigorous, independent and robust results in a cost effective way. Our approach is always based on providing you with the most effective solution supported by in depth analyses rather than standard methodology and process reviews.


We work to fully explore and understand the needs and expectations of our client and their advisors. We work as part of an integrated team with clients and their advisors, ensuring that our clients feel supported yet in control, understanding what we are doing and why.


We maintain the independence required of an expert where appropriate, in line with one of our core values: building relationships based trust.

Clients


We regularly work with:

  • capital project and programme owners, developers and operators looking for independent advice in relation to an asset they propose to sell or take an interest in;
  • contractors and specialist organisations facing uncertainties in unfamiliar situations or locations and in need of objective assessments and advice;
  • banks and funds requiring support with their technical expertise or resources and wishing to protect their interests; and
  • liquidators and receivers looking for factual evidence on live situations.

Sectors

  • Construction and Infrastructure
  • Energy (renewables / nuclear / oil and gas)
  • Manufacturing (rolling stock, aeronautic)
  • Mining
  • Aerospace & Defence