Financial and Technical Supervision (FTS) is a set of services provided in the interests of the investor (creditor) and aimed at monitoring the implementation of the Project in order to reduce risks and ensure the achievement of planned targets. Financial and technical supervision can be carried out both at the investment and operational phases of the Project.
As a part of the FTS, we can monitor the implementation of the Project in the following main areas:
- Project management system, composition and interaction scheme of project participants, contractual relations between project participants;
- compliance of the activities with the objectives of the Project;
- completeness of title, initial authorization, technical, design estimates, executive and contractual documentation;
- Implementation of the project schedule, compliance of the deadlines for the execution of the project with the schedule;
- the volume and cost of actually performed work and their compliance with the design estimates and working documentation, as well as the requirements of existing norms and rules;
-elimination by the Contractor of identified inconsistencies and changes to local estimates, a summary estimate;
- compliance of actual expenses for the Project with planned indicators and contractual conditions;
- monitoring the targeted use of borrowed / own funds;
- the implementation by the Project operator of the production program, the efficiency of operating expenses and procurement activities;
- the relevance of the marketing strategy and monitoring the implementation of the sales plan;
- relevance of the financial and economic model of the Project, incl. in terms of completeness and impact on the financial result of organizational, technical and financial factors;
- monitoring changes to the Project, issuing recommendations and holding consultations on eliminating their negative impact on the Project;
- Monitoring the implementation of the environmental protection plan (environmental monitoring);
- Monitoring of internal and external risks of the Project and the implementation of measures to level them.
The specific list of services provided under the FTS is determined by the requirements of the Customer based on the individual parameters of the Project and is fixed in the Terms of Reference (annex to the Agreement).