Interim Valuations
Risk mitigationFixed FeeOngoingFor Subcontractors & Main ContractorsBoth directions
I value the works properly each period against the pricing document, with the measure recorded so this month's valuation never has to be re-argued next month. A valuation done once and written down is a fact everyone can rely on; a valuation done from memory is an argument waiting to be had again.
The problem
The interim valuation is the number everything else runs on: it feeds the application or the certificate, sets the cash the job lives on, and becomes the running story the final account is built from. Yet on most small jobs it is estimated rather than measured, rolled forward from last month with a percentage nudged up, because measuring takes time nobody budgeted. The number is soft, and everyone downstream feels it: the assessor cuts it, the contractor doubts it. A percentage plucked from the air leaves no trace of how it was reached.
The solution
Each period I value the works against the pricing document line by line: measured progress on the priced items, materials on and, where the contract allows, off site, and variations valued to date on the same basis, the measure taken from the site's own records and recorded as it is taken. Because each item's progress is written down with its evidence, an agreed line stays agreed: next period starts from a fact rather than reopening a debate, and the cumulative position reconciles month on month. The number feeds straight into the application, certificate or cost report that consumes it.
What you receive
The works are valued to a number that is measured rather than guessed, recorded rather than remembered, and reconciled rather than drifting, every period. Because each line carries its measure and its evidence, an agreed valuation stays agreed instead of being re-argued next month, and the running account is proven as it goes rather than reconstructed at the end.
The Handover Pack accompanies the work with its dates and sources, likely outcomes and responses, scope boundaries and ready-to-send correspondence where needed.
Available as a one-off Fixed Fee valuation or Ongoing valuations. The stated cycle timing applies to the cycle work; a one-off instruction's timetable is agreed in writing.
Turnaround: five working days per cycle.
The working days start when the agreed scope and required inputs are available. Optional items do not hold the start unless the agreed scope says otherwise.
How it works
You tell me about the job and its valuations
One call on the project, the pricing document and how the valuation gets done today. The first conversation is free and commits you to nothing.
You send me the pricing document and the records
The list below lets the first valuation be measured against the contract's own rates and the site's own records rather than estimated.
- A
The executed contract and every amendment
EssentialWithout it: The valuation date, rules for items without bill rates, conditions for materials and retention percentage cannot be verified against the contract. Previous habits or spreadsheet settings do not establish those terms.
Where to find it: The job's commercial folder, or the order email, which normally holds the executed copy with its schedules and its schedule of amendments.
Why I need it: The clauses that fix the dates, the valuation rules, the materials conditions and the retention percentage
- B
The measure
OptionalWithout it: There is nothing to check the new measure against, so any drift only shows up later.
Where to find it: Whoever manages the account holds any measure already done. Ask for it as it stands, and say plainly if none exists yet.
Why I need it: What is being valued
- C
Drawings, at the current revision
EssentialWithout it: Progress cannot be measured against what was actually built, so the valuation cannot start.
Where to find it: The design team's shared folder or your own drawings register, whichever holds the current issue sheet and the revision numbers.
Why I need it: What was built against what was drawn
- D
The programme
ImportantWithout it: There is no planned position to test the measure against, so a valuation that is actually behind programme is not flagged as such.
Where to find it: Your planner if you have one, or the programme as last issued to you by the main contractor.
Why I need it: What the valuation date relates to
- E
Contract rates or the bill of quantities
EssentialWithout it: There is nothing to value the work against, so no sum can be put on progress at all.
Where to find it: The tender folder, or an appendix bound into the contract itself.
Why I need it: The basis of valuation
- F
Variations, with status
ImportantWithout it: Any instructed change is valued at nil until the register arrives, even where the work has clearly been done.
Where to find it: The job's payment folder and whatever register or email trail holds the variations.
Why I need it: What is earned outside the measure
- G
Materials on site records
ImportantWithout it: Materials already bought and delivered are valued at nil, even though they have been paid for.
Where to find it: The site team's phones and folders, the site diary and the supplier invoices file.
Why I need it: Value earned but not yet incorporated
- H
Previous valuations
EssentialWithout it: There is no base for this valuation to move from, so the cumulative position cannot be checked or continued.
Where to find it: The job's payment folder, and the sent items of whoever issued the applications, which is also where the certificates received back will be.
Why I need it: The base this valuation moves from
Copies are fine. Send what you have and I'll tell you what's missing. Download the client request PDF or editable Word version to pass to whoever holds the files.
- A
I set the valuation up against the pricing document
Each priced item, the rules on materials and variations, and the period's dates mapped once, on one document you hold too.
Cycle Dates From Contract
The valuation, application and payment dates are written down with clause numbers from the executed contract before the first measure is taken.
I measure and value the works each period
Progress measured line by line from the site's records, materials and variations valued to date, the measure recorded as it is taken.
You confirm the period's position before it is used
A short review each period: you correct anything the records cannot show me, and the number goes nowhere until you have seen it.
I record the measure and reconcile the cumulative position
Each agreed line written down with its evidence, the cumulative total reconciled month on month, so this period's valuation holds next period.
Overruns Need an Instruction
Any sum beyond a contract quantity is supported by a referenced instruction or excluded, and anything unagreed is identified on the face of the valuation.
I keep the account proven as it goes
For the ongoing option, between projects the service pauses rather than cancels: nothing is re-onboarded, the file and the diary stay warm, and it resumes the day the next project starts.
Free Service Pack
A step-by-step Handbook, with the templates and working documents you need to carry out the work it covers yourself. You supply your own project information and records.
Follow the Handbook's scope and stopping points, and obtain independent advice where required. The pack is not project-specific advice or independent sign-off.
Tips that raise your odds of success
Questions I get asked often
The valuation this service produces feeds straight into Payment Application Assembly & Issuance and into the monthly cost position built by CVR Production & Maintenance. The measured progress it works from is captured by Site Records & Progress Capture, and the variations it values are priced and registered in the Variations theme.