Project Procedures
The following are the step-by-step procedures to be used as a guide for Project Procedures.
| KEY: |
| - Morlin Asset Management, LP |
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| - Consultants |
- Architects, Engineers |
| - Contractor |
- General Contractor, Sub-Contractor |
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Formulation of Asset Preservation Budget |
- Morlin Asset Management, LP formulates recommendations to client for current year's Asset Preservation Projects.
- Client and Morlin Asset Management, LP confer on recommendations.
- Client approves list of projects.
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| Project Scope |
- Morlin Asset Management, LP prepares detailed scope and timing recommendation.
- Client approves scope of project.
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| Consultant Selection |
- Morlin Asset Management, LP prepares list of consultants for submission to client.
- Client reviews and provides approval of consultants.
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| Project Delineation |
- Morlin Asset Management, LP confers with project consultants and prepares detailed plans and specifications.
- Client reviews and approves plans and specifications.
- Consultants and Morlin Asset Management, LP prepare list of bidders.
- Client approves bid list.
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| Bidding |
- Morlin Asset Management, LP receives and spreads bids (no less than three bidders without Bid Exception form).
- Morlin Asset Management, LP prepares Corporate Properties Group Project Bid Summary Form for submission and approval by client/Property Manager.
- Client Budget forms prepared and attached to client Project Bid Summary Form.
- Bid Summary Form submitted to client's Regional or Unit Manager for approval.
- Bid Summary Form submitted to client Division Manager for approval to award to Low Bidder.
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| Bid Award |
- Project Number is assigned by client.
- Client prepares Purchase Orders for each discipline involved in approved project.
- Low Bidder is notified and approved Purchase Order is issued.
- All other project participants' Purchase Orders are issued.
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| Project Tracking |
- Morlin Asset Management, LP sets up tracking for Project Management.
- Morlin Asset Management, LP prepares Microsoft Project file for distribution to all project participants.
- Project files are updated to include required Certificates of Insurance, Performance and Completion Bonds (if required).
- Union Contract documentation for all trades, and all necessary governmental permits and approvals.
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| Progress Payments |
- Morlin Asset Management, LP requests review of work to date by Consultants.
- Consultants formulate estimates of project completion and forward recommendations.
- Morlin Asset Management, LP prepares request for Progress Payments under approved Purchase Order number.
- Morlin Asset Management, LP submits request to client for approval and payment.
- Morlin Asset Management, LP prepares tracking update.
- Morlin Asset Management, LP approves Progress Payments for submittal up to 90% of individual Purchase Order amounts.
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| Project Close Out |
- Morlin Asset Management, LP and Consultants prepare Punch List for each individual Purchase Order under Project Number.
- Morlin Asset Management, LP and Consultants monitor Punch List performance.
- Morlin Asset Management, LP receives Final Closing Package for submission to client. Closing Package includes Governmental Permit, Final Sign off, As-Built Plans and Specifications, Warranties, Maintenance and Operation Manuals, Maintenance Schedules and Procedures.
- Morlin Asset Management, LP prepares Final 10% retention Payment request upon completion of Punch List and receipt of Closing Package.
- Client approves Final 10% retention Payment under Purchase Order.
- Morlin Asset Management, LP releases 10% retention to Contractors and Consultants.
- Morlin Asset Management, LP updates SAP to close out Project Number.
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