4castplus Blog

4castplus Blog

27 27, 2019
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12 12, 2019

Project Procurement Belongs with the Project Team, Not Finance

If you were to ask any CFO or Controller which department should be responsible for all Procurement for the company, they would naturally respond with the Finance Department. On the other hand, if you were to ask any project controls professional about procurement, they would naturally respond with the Project Team, they should own procurement. 

So, who’s right?

 

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18 18, 2018

7 Things You Need to Know About 4castplus Resource Forecasting

One of the most important functions of project controls and cost engineering, is the ability to accurately forecast remaining costs-to-complete on a construction project. With the new Resource Forecasting tools in 4castplus, project controls professionals can now achieve ultimate accuracy and take full control of how projects are forecasted.

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19 19, 2018

Paper-based Ledgers are a Thing of the Past

Several decades ago, organizations used to manage all their finances using big paper-based ledgers, where they’d spend much of their day “doing the books”. These large ledger books worked for hundreds of years, however it would be a challenge to find any modern company today that runs their business on paper-based accounting methods.  

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20 20, 2017

5 Must-Follow Tips to Keep Your Projects Under Control and Profitable

This is a very big topic that could take volumes to discuss in any detail, but I promise not to bore you with anything like that. So here are 5 little gems of information that you should be doing to make sure you’re projects are consistently in control, on budget and on schedule.

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29 29, 2017

Taking the Leap? 10 Questions You Need to Ask When Looking at Construction Procurement Software Solutions

Your choice of construction procurement software can have a significant influence on the costs, productivity and success of your projects. If you’re looking for a software solution to enable the management of procurement on your construction projects, you want to make sure your teams are armed with the right amount of power and ease of use – after all, a significant amount is riding on what happens in procurement. For most major projects, a substantial portion of the total project costs are issued through purchase orders and subcontracts. You really need to get that right! 

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05 5, 2014

What's the Difference: RFP, RFQ and Invitation To Tender

In the world of contract management and procurement, there are a variety of ways the tendering stage can work.  A key part of planning any piece of work to be done, is determining who is going to do that work; and setting out the terms of reference and evaluation criteria for awarding the contract to the winning bidder.

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23 23, 2013

Should you Adopt Standards for Project Controls and Procurement?

4castplus Construction Procurement and Cost Tracking Software - Should You Adopt Standards for Project Controls and Procurement

I was visiting a client yesterday helping them get started with some new projects they were planning. They’re a fairly new client and are still working through some of their internal processes with respect to how they’re going to take full advantage of this enterprise software they've just adopted. They were engaged in a very productive, but heated dialogue about how to manage this transition. The challenges they face are similar challenges that most companies would in this situation, so I thought it’d be worth writing about.

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