23
23,
2020
Does Efficiency Lead to Profitability?
By
Michael Wilson
|
July
23,
2020
|
Categories:
project cost controls software,
project cost management software,
project controls best practices
|
0 Comments
20
20,
2020
Video - Integrating Procurement with Project Controls
By
Claire Beckham
|
April
20,
2020
|
Categories:
procurement management software,
project controls software,
construction procurement software,
project controls best practices,
Purchase Order Management
|
0 Comments
Most project controls professionals will agree that the procurement function is so essential to any construction project, it should be tightly integrated into the project team and their systems. The following video demonstrates some of the features of 4castplus that highlight how this tight connection brings enormous value and reduces project risk.
This video is a follow-up to the recent 4castplus webinar and whitepaper on this same topic which discussed how project procurement can be successfully separated from 'corporate' procurement and embedded into the project team and systems. It goes on to propose an integrated solution that will satisfy the needs of corporate finance and project controls so that both business units achieve their requirements for the benefit of the whole company.
Enjoy!
05
5,
2020
The As-Of Date is Crucial For Reporting Project Finances
By
Charlie Rose
|
March
5,
2020
|
Categories:
project accounting software,
project cost controls software,
measuring project progress,
project controls best practices,
financial reporting
|
0 Comments
It’s one of those boring details that is frequently overlooked – but ignoring it can cause havoc in project reporting. I’m talking about the importance of aligning project financial reporting to a specific point in time in order to have any chance at meaningful metrics on the state of the project. Major projects are steeped in complexity, with a high pace of activity going on every day. It’s tricky to measure and report on frenetic, in-flight projects like that because putting a halt to things simply isn’t an option, “Hey everyone, just stop what you’re doing so we can get a reading on what’s going on.” That’s just not going to happen. So, you have to set regular, theoretical, lines-in-the-sand at incremental points, and measure the project at those increments so that you can produce reports, even though things will keep moving on. It’s a bit like trying to measure the flow of a fast mountain river tumbling over rocks and cliffs – you have to just jump in and go for it while the river keeps pounding on past you.
26
26,
2019
Forecasting Cost to Complete on Major Construction Projects
By
Michael Wilson
|
November
26,
2019
|
Categories:
project controls software,
Project Cost Controls,
project cost management software,
project forecasting,
Forecast-to-Complete,
project controls best practices
|
0 Comments
Introduction
Mega construction projects withstand a level of complexity like no other. More than ever, organizations are searching for ways to increase efficiencies, reduce costs, increase productivity, collaboration and automation on their construction projects. To achieve this, the project team needs to apply a significant level of rigor in the planning and management of projects and deliver key metrics and projections to all project stakeholders throughout its execution. Calculating a reliable month-over-month forecast requires that the project team has not only done sufficient upfront project planning, but they’re also performing ongoing monitoring, measurement and management of the project in order to produce an accurate report for the project's financial stakeholders.
31
31,
2019
Should You Align Your CBS with Your WBS?
By
Michael Wilson
|
July
31,
2019
|
Categories:
project controls best practices,
cost engineering,
Project Cost Code Management
|
0 Comments
When it comes to project controls, budgeting and cost tracking, the Cost Breakdown Structure (CBS) plays an integral role in the management of construction projects. For many organizations, designing a standardized CBS can present a number of challenges as there aren’t a lot of models and standards out there to draw ideas from. The reality is, you’re kind-of on your own to define how you want to break down your project’s costs into logical buckets for careful management of its finances.
08
8,
2015
Project Controls: Defining Your Objectives and Best Practices
By
Charlie Rose
|
June
8,
2015
|
Categories:
Construction Cost Tracking,
construction estimating software,
Construction Tracking Software,
Earned Value Management,
earned value management software,
EVM,
project controls software,
project cost control software,
Project Cost Controls,
project cost management,
project cost management software,
project cost tracking,
Project Progress,
Real-time project cost tracking,
cost management software,
construction job cost software,
progress measurement,
project controls best practices,
project cost tracking software,
job costing software,
cost control in project management,
supply chain systems,
information management
|
0 Comments