How did Benori help a global firm benchmark financial evaluation practices of urban development contractors
Objective & Scope:
An advisory firm needed a comprehensive benchmarking of how contractors are evaluated financially, with the goal of strengthening both pre-qualification procedures and in-contract monitoring across urban development projects. They needed to: Analyse contractor financial evaluation practices across the UK, Norway, and Singapore, alongside a comparative study of three peer organisations Finalise metrics for standardised reviews of contractor profitability, liquidity, solvency, and overall financial stability Identify best practices for leveraging financial statements and implementing controls, such as periodic credit checks and forward-looking financial documents
Benori’s Approach:
Benori combined secondary and primary research to build a structured benchmarking framework for contractor financial evaluation. The engagement involved: Analysing government guides, RFPs, and contractor assessment tools to extract mandatory submissions, key ratios, and monitoring norms for construction procurement Benchmarking urban contractors based on financial evaluation practices, mapping ratios, assessment tools, and workflows Enabling consistent capture, normalisation, and benchmarking of contractor financials across geographies
Impact:
Benori delivered a structured benchmarking framework that equipped the client to strengthen its contractor evaluation processes with greater consistency and confidence. Key outcomes: Captured best practices in contractor financial evaluation, including tools, technologies, and criteria for assessing financial stability Identified standard ratios, document sets, and review cadence to accelerate pre-qualification procedures and drive consistent application across sourcing cycles and contracts
