If there are no cost control methods and tools in the construction project, the project manager and management may not be able to accurately predict and effectively control the final results of project cost execution until the project is fully completed.
If cost control engineers only use Excel tables, data summary and analysis may have problems. It is not conducive to unifying the standards of different projects in the enterprise, and it is not convenient to show the analysis results to the leaders.
The purpose of project cost control is to ensure that the project team can formulate the cost estimation in the process of project, control the whole process of project cost, find the cost deviation in time, and put forward suggestions and take corrective measures before the deviation
occurs.
System Overview
Expense management
In the process of project implementation, effectively reflect the comparison of the amount difference between budget estimate, general contracting and subcontracting, which makes the project bidding and project implementation connect smoothly in terms of cost management.
Dynamically reflect the fund flow curve and analyze the paid, actually paid, received and actually received amount of the project in real time.
Contract management
Connect the contract signing and contract execution smoothly, avoid hidden dangers for future contract disputes.
Control the funds, and achieve the purpose of cost control by control of the quantity.
System Value
Value for General Contractor
Value for the owner
Closed-loop cost information management from bidding, contract price, cost plan, cost control, cost accounting and cost analysis.
Comparative analysis from multiple perspectives of project budget estimate, contract amount, planned revenue and expenditure, and actual revenue and expenditure.
Take contract management as the main line, strictly control changes and project costs.
Combine the planned payment with the project progress, and use the earned value to forecast the project.
Realize the whole process investment control of advance estimation, in-process control and post analysis of project investment.
Realize the integrated control of budget estimate, fund raising, contract execution, engineering measurement and financial revenue and expenditure.
Conduct investment estimation and deviation analysis, analyze the causes of deviation, and reasonably control the investment.
Strengthen contract management and control project investment.
Our Advantages
Support multi-currency
Report structure is based on WBS, OBS and CBS
Can be applied in single or multiple projects
User-defined access control
The system parameters can be flexibly configured
Existing Problems
In 2001, the Construction Industry Review Committee (CIRC), which is responsible for the construction industry in the Hong Kong Special Administrative Region, pointed out in its report that risks should be allocated more fairly to both contracting parties, and the text of the contract
should be easy to understand, with clear definition of risks and clear resolution of disputes arising from risks. It will be more convenient for effective management in terms of construction time, cost, safety and quality. The proposal prompted the Hong Kong government to start paying
attention to and trying NEC.
At present, there are more than 170 projects using NEC and more than 30 projects using PSC in Hong Kong, with a total contract value of more than HK $70 billion.
The use of NEC contracts continues to grow worldwide. In the UK and Hong Kong, this is the default contract kit for public sector engineering, services and supplies. Using NEC specifications, when potential risks such as increased costs, extended construction period and reduced quality
are found, early warning mechanisms can be triggered in time. Measures can be taken quickly to avoid them and solutions can be used to mitigate impacts. Changes can be implemented in time when they cannot be avoided. The approval and appropriation of compensation events can be
completed quickly in a short time.
System Overview
One-stop contract management solution to manage contracts, payments, compensation events.
Track, forecast and monitor the execution of contracts, and bring more accurate and clear decision support for project cost and performance.
Meet the requirements of NEC's ECC model contract.
Establish an early warning mechanism through the system to manage the avoidance and resolution of disputes.
Project managers and supervisors can cooperate with each other to improve the efficiency of negotiation, mediation and dispute resolution.
The contract information of different types of services and materials signed by the project are registered in Project Contract.
The related party can register the collection and payment plan and the application, approval and payment of the collection and payment online.
Compensation events can manage the approval of changes and the impact on costs, giving managers a comprehensive view of project costs.
System Value
Simplify the management of complex contracts (compliant with NEC3, NEC4 and other contract management models).
Intuitive embedded contract knowledge and user-based workflow.
Attention to the positive impact of collaborative behavior on the success of the contract, reduce the time wasted by disputes.
Improve contract compliance and reduce business risk.
Reminder and countdown can help the team take better actions.
Secure data, based on Hong Kong infrastructure, hourly backup and two-factor authentication.
BI analytics for real-time portfolio-level analysis and reporting (embedded Microsoft Power BI).
Dedicated support for ticket service, user guides, comprehensive e-learning and practice areas.
Our Advantages
Leading software with security guarantee and rapid deployment
Developed by leading industry experts and practitioners, with quality assurance
Meet the needs of contract management, built around events rather than documents
Visual dashboards provide early warning, the users get a clear view of contract status, dates, and prices
Supports multiple currencies
Suitable for applied in single or multiple projects
Event logs, communication archives, and governance audit trails
Secure storage of contract data, regular backup, flexible and comprehensive access control
