References

Context

Engaged to deliver a €74M training centre in 20 months, the project is now running 21 months late with amendments for 17 months already signed. Argos Construction supports the developer in its dealings with a demanding Owner and a joint venture pursuing a tough contractual stance.

Mission

Contract management for the developer

Objectives

• Set-up of a contractual database
• Traceability of works and events
• Assistance with drafting correspondence and amendments

Stakes

• €74M (excl. tax) construction contract
• 21-month delay in completion versus a 20-month schedule

Result

Amendments signed for 17 months of time extension and €9.5M; discussions ongoing

Mission

Final account analysis — weather-tight stage

Objectives

• Analysis of design changes and time entitlements
• Review of the general contractor's claims and Architect's opinion
• Analysis of the account line items

Stakes

• 6-month delay on an initial 2-year schedule
• €5M on a €11M contract (32%).

Result

To come.

Mission

Acquisition audit (in bonis)

Objectives

• Detailed review of cash-flow plans and organisation
• 5-year business plan and development plan for partners

Stakes

• €225M (portfolio)

Context

Within the post-Covid recovery plan, this €27M contract covers the energy retrofit (target: −45%) of a 30,000 m² high-rise building that must remain in operation. Argos Construction supports the Owner in delivering a tight schedule organised in 9 phases over two years, including design.

Mission

Set-up of contract-management tools and schedule monitoring

Stakes

• Enable the Owner to maintain continuous operation of the premises with minimum disruption, through tools that allow close schedule monitoring and strict respect of deadlines.

Mission

Review of ongoing matters and cost structure

Objectives

• Review of project-by-project cash flow and organisation
• Control of receivables assignments and contractual assistance

Stakes

• €40M revenue, 180 employees

Context

The refurbishment of this high-end hotel complex is now expected to run 6.5 months late, due to numerous client changes and the failure of contractors holding key trade packages. The electrical contractor (€21M) engaged Argos Construction to prepare a provisional statement of cost overruns to support negotiations for an amendment.

Mission

Preparation of a provisional statement of cost overruns and damages

Objectives

• Contractual and delay analysis
• Review and complement of cost-overrun and damages pricing

Stakes

• 6.5-month extension on an initial 21-month schedule
• €3.8M of cost overruns

Result

Discussions ongoing

Context

As part of an in bonis acquisition, Argos Construction was engaged to assess the ongoing projects and forecast margins of this company specialising in structural works on historic monuments, in order to enable a fair valuation of the disposal.

Mission

External review of ongoing matters

Objectives

• Review of organisation and cost structure
• Review of forecast margins and budget

Stakes

• €9.5M revenue, 60 employees

Context

The conversion of this Parisian building into a 5-star hotel (€6M, 14 months) suffered a 7-month delay across all trades, entirely due to late input data and constant changes outside the joint venture's control. Argos Construction prepared the claim memorandum for €1.2M of cost overruns, while the Owner intends to apply €860k in delay penalties.

Mission

Preparation of a claim for additional compensation

Objectives

• Analysis of contract documents and contemporaneous records
• Analysis of cumulative delay impacts
• Quantification of cost overruns and drafting of the memorandum

Stakes

• 7-month delay on an initial 14-month schedule (+50%)
• €1.2M on an initial €6M contract (20%)

Mission

Technical advisor to the Owner — amicable expertise

Objectives

• Analysis of the general contractor's claim files
• Review of pricing and conclusions

Stakes

• 6-month delay on an initial 56-month schedule
• €20M on a €300M contract.

Result

Amicable negotiation.