36+ Years of Construction Leadership

Construction Draw Reviews and

Progress Monitoring

Independent verification of construction progress, payment requests,

remaining costs, and emerging project risk.

Introduction

A construction draw review should provide more than a percentage-complete estimate.

An effective review should determine whether the requested payment is supported by actual progress, whether stored materials are properly documented, whether change orders have affected the budget, and whether sufficient funds remain to complete the project.

RFH Partners provides independent draw-review and construction-monitoring services for banks, private lenders, investors, owners, and other project stakeholders.

What We Review

Depending on the engagement, RFH Partners may review:

  • Contractor payment applications

  • Schedule of values

  • Percentage of completion

  • Work completed since the prior draw

  • Stored materials

  • Approved and pending change orders

  • Retainage

  • Construction contingency

  • Contractor and subcontractor lien waivers

  • Progress photographs

  • Project schedules

  • Job-cost reports

  • Remaining contract balances

  • Outstanding commitments

  • Cost to complete

  • Available loan funds

  • Emerging budget or schedule concerns

Site Progress Verification

When site observations are included, RFH Partners compares the reported progress with conditions observed at the project.

The review may address:

  • Work currently in place

  • Work completed since the prior inspection

  • Material stored on site

  • Apparent quality or completion concerns

  • Incomplete or deficient work

  • Current manpower and activity

  • Schedule status

  • Access or coordination concerns

  • Visible conditions that may affect completion

A site visit is not represented as a comprehensive code, architectural, or engineering inspection unless expressly included in the agreed scope.

Payment Application Analysis

RFH Partners evaluates whether the payment request appears consistent with the documented and observed status of the work.

The analysis may identify:

  • Overstated percentages of completion

  • Premature billing

  • Unsupported stored materials

  • Front-loaded schedule-of-values items

  • Missing lien waivers

  • Unapproved change-order amounts

  • Insufficient retainage

  • Costs charged to the wrong scope

  • Duplicate or unsupported amounts

  • Funding gaps

  • Inadequate remaining contract balances

Cost-to-Complete Review

A project can appear adequately funded based on the original budget while still facing a completion shortfall.

RFH Partners evaluates the relationship among:

  • Remaining work

  • Remaining contract balances

  • Approved and pending changes

  • Construction contingency

  • Uncommitted costs

  • Corrective work

  • Schedule-related costs

  • Available loan proceeds

  • Anticipated completion obligations

The objective is to identify potential shortfalls before the project reaches a critical stage.

Lender Focused Reporting

Reports are prepared to help decision-makers understand

  • Current project status

  • Support for the requested draw

  • Recommended draw amount

  • Material exceptions

  • Budget concerns

  • Schedule concerns

  • Remaining risks

  • Required follow-up

  • Potential holdbacks or funding conditions

Findings are presented clearly and without unnecessary technical language.

Establish a Draw-Review Program

RFH Partners can provide a one-time review, recurring monthly monitoring, or enhanced oversight for projects requiring additional attention.

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Independent construction risk advisory led by industry veterans. Providing high-fidelity project oversight and fast, actionable insights for the modern capital market.

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