A progress report is a decision document, not just a record of the month. The commercial position should be clear at the front, with enough supporting detail to explain how the assessment was reached and what still requires action.
At a glance
- Claimed value and assessed value should be shown separately.
- Known, approved and unsubstantiated changes should not be blended together.
- The report should explain whether enough money appears to remain to complete the project.
The payment position
The reader should be able to identify the builder’s current claim, the QS assessed value, previous payments or drawdowns, retention or security treatment, and the recommended current payment.
Any material difference between the claim and assessment should be explained by trade or issue rather than left as an unexplained adjustment.
Observed progress and evidence
The report should distinguish work observed on site from amounts supported by other documents. Concealed work, off-site materials and recently completed specialist items may need separate evidence.
Clear wording such as “not provided”, “not verified” or “pending substantiation” is more useful than language that implies certainty where the evidence is incomplete.
Variations and forecast final cost
Approved variations, submitted variations, potential changes, provisional-sum movements and delay claims should be tracked by status. This allows the adjusted contract value and forecast final cost to be understood without treating every potential claim as agreed.
A good report also explains contingency use and any significant cost exposure outside the builder’s contract.
Cost to complete and funding
For lender reporting, the remaining contract cost is only one part of the completion position. The assessment may also need to consider consultants, authorities, client-direct works, uncontracted scope, contingencies and other known commitments against the undrawn facility and remaining equity.
Where the forecast exceeds available funding, the report should quantify the apparent shortfall and identify the assumptions behind it.
Documents, programme and next actions
Current insurances, permits, inspection certificates, statutory declarations, programme dates and practical-completion information can be relevant to the reporting scope. Expiry dates and missing items should be visible where they affect drawdown risk.
Finish with actions: what evidence is required, who needs to approve it, and whether the current assessment is conditional on that information.