VALENCE Cost Forensics
Pay application audit & anti-fraud detection
Scheduled Value
$1.8M
GC Billed
$546K
PM Verified
$446K
Variance
$100K
18.3% of billed
Lines Flagged
6/10
| # | Description | Trade | Scheduled | GC % | GC Billed | PM % | PM Verified | Variance | Flag |
|---|---|---|---|---|---|---|---|---|---|
| 1 | General Conditions | general | $210,000 | 55% | $115,500 | $109,200 | +$6,300 | OK | |
| 2 | Demolition & Site Prep | general | $145,000 | 0% | $0 | $0 | $0 | OK | |
| 3 | Concrete & Masonry | general | $180,000 | 25% | $45,000 | $36,000 | +$9,000 | flag | |
| AI Flag: GC claims 95% complete but typical progress at this stage is 90%. Variance: $9,000 (5% of scheduled) | |||||||||
| 4 | HVAC — Ductwork & Equipment | mechanical | $320,000 | 40% | $128,000 | $96,000 | +$32,000 | critical | |
| AI Flag: OVERBILLING: GC claims 70% complete but ductwork installation is only 60% per site observation. $32K variance = 10% of scheduled value. | |||||||||
| 5 | Electrical — Rough-in | electrical | $195,000 | 35% | $68,250 | $64,350 | +$3,900 | OK | |
| 6 | Plumbing — Rough-in | plumbing | $165,000 | 30% | $49,500 | $46,200 | +$3,300 | OK | |
| 7 | Fire Protection System | fire | $125,000 | 50% | $62,500 | $37,500 | +$25,000 | critical | |
| AI Flag: OVERBILLING: GC claims 70% but Ansul system not yet installed. Only rough piping complete (30%). $25K variance = 20% of scheduled. | |||||||||
| 8 | Grease Interceptor | plumbing | $42,000 | 85% | $35,700 | $33,600 | +$2,100 | warning | |
| AI Flag: Price: $42K for interceptor implies $2.80/SF — benchmark is $1.47/SF. Possible price inflation. | |||||||||
| 9 | Interior Finishes | finishes | $98,000 | 15% | $14,700 | $9,800 | +$4,900 | flag | |
| AI Flag: GC billing 15% on finishes but framing not complete. Premature billing. | |||||||||
| 10 | Equipment Installation | mechanical | $270,000 | 10% | $27,000 | $13,500 | +$13,500 | flag | |
| AI Flag: GC billing for stored materials. Equipment on-site but not installed. PM verified 5% for receiving only. | |||||||||
| TOTALS | $1,750,000 | $546,150 | $446,150 | +$100,000 | 6 flags | ||||
Cost vs Portfolio Benchmark ($/SF)
General Conditions$14.00 vs $14.00/SF
Concrete & Masonry$12.00 vs $12.00/SF
HVAC — Ductwork & Equipment$21.33 vs $21.33/SF
Electrical — Rough-in$13.00 vs $13.00/SF
Plumbing — Rough-in$11.00 vs $11.00/SF
Fire Protection System$8.33 vs $8.33/SF
Grease Interceptor$2.80 vs $2.80/SF
Interior Finishes$6.53 vs $6.53/SF
Equipment Installation$18.00 vs $18.00/SF
Budget Burn Chart
ATM Chicago Buildout / Planned vs Actual Cumulative Spend
+$130K
8.1% over plan through May