Capital expense projects are often a significant component of an organization’s budget, and with a construction project portfolio consisting of over 200 projects a year, and averaging $140 million in spending, Boston University is no different. Working closely with Construction Services, our Construction Audit Program aims to provide an objective review of construction projects to help validate costs charged to the projects. Our processes include reviewing contractor and subcontractor labor rates, performing interim and closeout audits, and generally providing support to project managers on construction projects. Our aims include:
- obtaining a greater visibility and transparency to project costs and fees, and
- identify and address instances of contract non-compliance
- foster a collaborative environment for contractors, project managers, and other University representatives.