Other solutions we provide:

• Compliance & Regulatory Matters – Human Resources, M/WBE Audits, Safety, Outsourced Ethics Function

• Construction Taxation Specialists• Corporate Retreat Facilitation • Merger & Acquisition Consulting and Due Diligence• Next Generation Training • Research and Development Credit Opportunities• Strategic Planning• Technology Implementation & Management, Software Support

CONSTRUCTION CONSULTING SOLUTIONS

“New ways to build, new ways to help you succeed.”

Valuations

The valuation of a business is more an art than a science. The process is based not only on the collection and analysis of relevant facts, but also on the use of our experts’ well developed business judgment and experience. We view each valuation as a unique circumstance and consider a variety of factors including income generation, market conditions and the value of assets before identifying an approach or combination of approaches that is best suited to your business and the purpose of your business valuation.

Throughout the process, our experts will work closely with you and your advisors to ensure that the valuation meets its intended objectives.

Project Forensics & Litigation Support

When a project goes “sideways” you need to know why. The ramifications are not necessarily limited to lost dollars. There could be a risk to your reputation as well.

Grassi’s project centric teams can step in and assist with:

Contract Disputes - when the parties to a project cannot agree on a desired outcome, our team works through the accounting, investigates and reports to the facts of the matter at hand and supports the represented party as we work towards resolution. Our expertise draws on experience with various contract sizes, from maintenance to new construction.

Diversion Accounting – we provide high quality accounting for all sides in these types of multi-party arrangements (owner, project manager, contractor, and sub-contractor), with a proven track record to assist in settlement and delivery of effective reports for trial. We provide the requisite schedules under regulatory mandate in these matters.

Fraud Investigation – asset misappropriation, misreporting of financial results, bid rigging and purchasing agent kickbacks are examples of cases we have handled.

CASE STUDYClient: Employee Purchasers of a Residential Construction CompanyProject: Valuation History and Overview of Project: Review prior valuation to determine fair market valuation of the business. Our analysis determined that the valuation of the business was reasonable, but the buyout terms would cause financial distress on both the company and the employee purchasers. Our solution was to increase the buyout from a three-year to a six- year period. The new owners reached out to us in year four to thank us and let us know the business is flourishing. They also indicated that had they agreed to the original terms of a three-year buyout they would not have been able to survive the first two years.

Grassi Construction Consulting Solutions… “New ways to build, new ways to help you succeed.”

For further information, contact Carl Oliveri, Construction Practice Leader, at 212-223-5047, or email coliveri@grassicpas.com.

Proud Members of:

Contract Monitorship & Owners’ Representative

Using our comprehensive background working with construction contractors and executives, Grassi & Co. Construction Consultants will provide and thoroughly review an analysis of your construction management contracts, their terms, and conditions. We offer solutions and advice with respect to inconsistencies in contract language and parameters, enabling our clients to mitigate any associated exposure. Our experience and approach helps our clients to effectively manage risk on projects, satisfy the concerns of both internal and external auditors and ensure that appropriate, effective controls and policies are in place.

CFO Advisory Services

Given today’s volatile economy, the role of a Chief Financial Officer has expanded. In order to remain competitive, organizations need professionals that provide the high-level guidance necessary to meet their needs. Engaging a Grassi CFO with the skills and knowledge to assess your current procedures and identify areas that negatively impact your financial performance will provide you with a competitive edge, increasing your profitability and efficiency.

Construction Cost Auditing

A Construction Cost Audit is a detailed analysis of the construction contract documents and audit of the costs billed to the owner. This audit can help determine if there are any inaccurate billings or over payments for the project. The role of a construction cost auditor is not to take the place of an architect, accountant or project manager, but to supplement their services by taking the financial review of the project to the next level. The Grassi & Co. team will help you or your client save money through our in-depth knowledge of construction-related contracts and financial records, ensuring the owner pays only what the contract allows.

Project Specific Audits

The project specific audit is a continuous process that starts once a project is awarded and completes at the project’s end. The purpose is to ensure that the actual financial results and metrics are in line with the estimates. This is accomplished by creating an ongoing dialogue with management and the project team whereby on a monthly basis the project is audited, identified issues are investigated, and conclusions are reached and reported on. This proactive process helps management complete the project(s) on time and in line with estimates.

CASE STUDYClient: Large Construction CompanyProject: Interim CFO ServicesHistory and Overview of Project: Grassi & Co. created:

• Yearly budgets• Prepared monthly financial package

* analysis for owners and banks * collateral reports for banks

• Assisted owners with their negotiations for lines of credit, provided ideas on cost cutting measures

• Participated in quarterly meetings with owners to provide strategic advice and review financial performance

• Managed client’s internal accounting staff

CASE STUDYClient: Large Medical CenterProject: Cost Audits of Capital ProjectsHistory and Overview of Project: Grassi & Co. performed cost and wage audits for a large Medical Center’s capital projects program. Our Cost Audit resulted in over $500,000 of savings on construction projects and significantly reduced the hospital’s liability exposure as it relates to prevailing wage violations.

As the construction industry changes, so do your priorities. As the executive of a construction company, responding to today’s problem tomorrow isn’t a solution, its lost income. The answer to “how does the industry build better?” is to be proactive and innovative.

At Grassi & Co. we understand the needs of a construction company are dynamic and complex. As dedicated industry leaders, the professionals of Grassi Construction Consulting Solutions can give you the tools to develop and implement your strategic vision, improve operational flow and efficiencies and make the non-traditional design a profitable building reality.

Today’s projects have evolved well beyond brick and mortar, shouldn’t your business?

The suite of services that Grassi Construction Consulting provides include, but are not limited to:

Operational Review

Grassi & Co.’s Business Advisory Services are geared to help you address and overcome financial and business issues and challenges.

An Operational Review is an independent and objective evaluation that takes a holistic view of your operational environment. The analysis identifies areas for improvement—with the goal of adding to the bottom line and reducing risk. Using an outsider’s perspective and keen management insights gained through years of experience, your Grassi & Co. team of professionals evaluate performance, identify key operational issues, and make recommendations for improvements. This technique reduces fraud risks, creates efficiencies, establishes and solidifies corporate goals, increases communication and ultimately increases cash flow and profitability.

The operational review performed on the accounting and finance function for clients includes the:

• Development of Best Practice’s approach for improving internal controls• Development and implementation of business strategies to enhance financial and operational

performance• Assessment of current accounting staff roles and responsibilities• Ensures the integrity of processes

CASE STUDYClient: Large University Hospital Project: Comprehensive cost and contract monitor for a 465,000 square foot biomedical research building in New York City. History and Overview of Project: The Grassi & Co. team became involved just prior to contracts being signed—which was a key area as we were able to identify inconsistent contractual terms which saved our client over $2 million from the original budget. Grassi & Co. team members attended monthly pencil req meetings between CM and owner personnel to stay informed on project issues and change orders. Additionally, our team worked closely with risk managers for the project’s insurance package and identified several erroneous claims made by the contractors against policies for builder’s risk. The Grassi & Co. team identified $2.6 million of erroneous or improper costs from our monthly monitoring and change order verification. The team verified the cost for over $15,000,000 of change orders to subcontractors and the CM. The project had over $14 million of savings from the original GMP budget.