Objective and 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
Looking to benchmark financial evaluation practices and build stronger procurement frameworks? Connect with us at info@benori.com to see how Benori's research capabilities can support your next engagement.
