How do I prepare a construction project report for a bank, investor or auditor quickly?
A report for a bank, investor or auditor needs progress against plan, cost and payments to date, pending risks and claims, and evidence behind each figure. It usually takes days because the data sits in different places. If the project’s records are already being read and organised every day, a first draft for any date can be prepared in minutes, for your team to check.
What these reports usually need
- Physical progress against the approved schedule, and the forecast completion date
- Cost incurred, bills certified and payments made, and the cost to complete
- Funds used against the sanctioned means of finance (in India often backed by a CA certificate)
- Status of statutory approvals and insurances
- For developers in India: RERA quarterly updates and the position of the separate RERA account into which 70% of collections must be deposited, with withdrawals certified by an engineer, architect and chartered accountant
- Pending claims, variations and disputes
- Key risks and delays, with reasons
- Evidence behind every figure, which a lender’s independent engineer will usually check
Why it takes days today
The figures come from accounts, planning, site and commercial teams, each with its own spreadsheet. Someone has to collect, reconcile and format them, usually under deadline.
How AI helps
MIRAGE Shadow OS by NovaKons keeps reading the project’s records every day, so a first draft report for any date, for a bank, investor, auditor or board, is ready in minutes, with the records behind it, for your team to check.
Imagine what you want to build. NovaKons is building the AI agents to make it real.