+351 214 866 440 geral@timelink.pt

CTimeXL Construction Business Inteligence

CTime is an application that is developed by TimeLink to function as a Business Intelligence tool that brings together data from Candy and from the company’s ERP or Accounting system.

Overview

  • Projects can be consolidated and analysed by characteristic, for example: by geographical regions, by contracts manager, by job type, etc.
  • Projects can be controlled to the required level of detail: Job Location, Task, Group, Ledger and Resource
  • Costs, Income and Profit Margins can be controlled.
  • 360º control of Amounts, Quantities and Rates.
  • Data for elapsed periods is stored for analysis and is displayed with the projections for remaining periods. Data can be analysed by period or cumulative amounts.
  • Alerts can be configured by defining the maximum permissible variation amounts, and any values that exceed these limits will be automatically highlighted, allowing the users to speedily identify difficulties.
  • The last month’s data can be rapidly incorporated into the analysis and the future forecasts are automatically updated based on the latest revision of the production budget. Using Candy, the production budget is updated dynamically on the fly.
  • Quick review of previous periods’ data.
  • Unlimited reporting with pre-defined by editable Excel Pivot Tables and Pivot Charts.
  • Create reports in Word or PDF format automatically.
  • Automatically send reports through Outlook.

The Dashboard sheet:

The summary dashboard provides a quick and extensive overview, in amounts and percentages, of the current position of the company, the project(s), the costs, the income and the profit margins.

The Cumulative and Period Amounts Sheets:

These two sheets are similar, but the one shows cumulative values and the other shows period values. Note that the period values that are shown are derived from the differences in the previously recorded cumulative amounts, and this data cannot be changed.

Analyse and compare planned, forecast, actual and projected amounts.

The PPI (Production Performance Indicator), is an indicator of the production that has been achieved against the planned production.

The CPI (Cost Performance Indicator), is an indicator of the actual costs against the expected costs for the production that has been achieved.

The Final Amounts Sheet:

Comparison of the Tender Bid Budget against the Production Budget (initial and current).

Follow the development over time of the Projected Final Amounts (dynamically updated via the Current Production Budget) against the Production Budget, at the required level of detail.

 The Financial Sheet:

Follow the development of the payments or income amounts over time, at the required level of detail:

 The Rates sheet:

Comparison of the average production budget rates versus the actual average rates (from the accounts) and the projected rates for works remaining (from the current production budget). Immediately establish what the impact of the resource rate variations (in amounts and %) is on the current cumulative variation for the project(s). Projection of the future impact of the variations.

 The Quantities Sheet:

Comparison between the initially budgeted quantities, the currently budgeted quantities and the projected quantities (for completed and outstanding works). Monthly forecast for the projected quantities (for the outstanding works). Immediately establish what the impact of the resource quantity variations (in amounts and %) is on the current cumulative variation for the project(s). Leverage purchasing power and manage future resource purchasing requirements by consolidating like resources across the company’s projects for greater profits.

The Amounts over Time Sheet:

Graphical and numerical analysis of the factual past and the projected probable future of the project(s).

The Adjustments Sheet:

Scrutinise the evolution of the adjustments that have been made (against cost and income).

Analyse the impact of the adjustments on the individual projects or on consolidated projects.

The Margins and Degree of Completion Sheet:

Assessment of the margins: tender bid budget, the initial production budget, the current production budget and the projected final.

Scrutinise the evolution of the degree of completion of the individual projects or consolidated projects.

Compare the profit declared with the result considering the degree of completion.

The Cost / Income Ratio Sheet:

Assessment of the Cost/income Ratios for the production (the production budget), the real (the actual) and the projection for each individual project or combined projects.

Item Description Source
Budget Cost vs forecast income (from the CPB -Current Production Budget) ratio Candy
Real Cost vs real income. Includes adjustments, if they exist. ERP
Final Proj. Cost vs projected income (from the CPB revised resource and production rates) ERP & Candy

The Economic Fluxes Sheet:

Shows histograms for economic fluxes taking into account the previous cumulative amounts and projected amounts, for individual project (or consolidated groups of projects).

The Over/Under Invoicing Sheet:

Assessment of the development of amounts over time of the under/over invoicing for each project, and analysis of the items that originate the under/over invoicing.

Scrutinize the monthly financial impact on the project (or consolidated groups of projects).

The Subcontracts Sheet:

Note that the data here should not include Labour Only subcontracts.

Track the amounts that have been awarded, the amounts that are due and the amounts paid.

Evaluate the under/over paid amounts for the subcontractor by project or group of projects.

Compare the amount due to the subcontractors for work done with the amount that is being claimed from the client, for the corresponding works.

Monthly assessment of the value of awarded subcontract work outstanding, against the value of the projected subcontract work remaining.

The Items Status (Open / Close) Sheet:

Follow the progress of “closing” the “open” items in each project, and the resulting reduction in the degree of uncertainty of the projected final margin that having “open” items implies.

Identify the activities / items (and their amounts) which remain “open”.

The Loss Items Sheet:

Assess the items, which have negative margin (the loss items), for the remaining works that are still to be produced and/or invoiced,

The VO’s Awaiting Approval Sheet:

Track the costs, income and margins amounts of the variation orders for which approval is outstanding, as well as the periods in which they arose to establish how long the approvals have been outstanding.

Assess the theoretical cost and income of the additional works completed for which approval was not given, as well as the period in which they were produced.

Analysis of the impacts of the above-mentioned amounts, by project or by projects.

Find out more.....

Would you like to find out more about Candy Estimating and how it would work in your business?

Get a taster for our software and see for yourself what Candy Estimating can do for your business.

CTime - Construction Business Inteligence

CTime is an application that is developed by TimeLink to function as a Business Intelligence tool that brings together data from Candy and from the company's ERP or Accounting system.
ctime

CTime is an application that is developed by TimeLink to function as a Business Intelligence tool that brings together data from Candy and from the company’s ERP or Accounting system. Working with CTime does not require a detailed working knowledge of Candy and a manager can quickly access information of his job or his jobs, by zone or area, by type of project, by date or even consolidated information of all the company contracts, with little more than a few mouse clicks.

It is a tool that enables organizations to change their control methodology from analysing the past to deciding on the future.

  • Multifaceted control of Unit Rates, Production rates, Quantities and Amounts.
  • Actual and forecast profit margins, costs and income can be analysed per individual contract or consolidated by zone, business unit, contracts’ manager, or by project manager.
  • The values of any period can be accessed directly, and the period unit can be defined as: yearly, biannually, quarterly, monthly or weekly
  • The evolutions of value over time are presented in actual values for elapsed periods and forecast values for future periods as follows:
  • If the ERP (or accounting system) provides data about the resources used or received to date, then it is possible to analyse with precision the source of the cost over/under runs detailed

360º Control

Multifaceted control of Unit Rates, Production rates, Quantities and Amounts.

Final forecasts are constantly updated

Construction Management in 4D

Well sustained and consolidated economic and financial forecasts are available for strategic decision making.

The projected production rates can be compared to historically achieved and currently forecast production rates.

Communication with existing ERP systems

Resource usage forecasts can be consolidated and sent to the ERP system

CTime can be applied in two areas

Estimating

  • Comparing the various alternatives of an estimate
  • Analysing cost ratios by a number of parameters
  • Comparing up to 10 versions of finalisation top-sheets
  • Printing of BOQ and worksheets as per the templates required by some international markets – South and Central America and area of the Maghreb (Algeria, Morocco, Tunisia …).

Construction Management

  • Management of budgets of individual or consolidated job sites
  • Consolidation of information from various projects by five levels of information (areas, type of work, manager…)
  • Cost and earned value analysis
  • Monthly records and forecasts of values, quantities, Variation Order Status, remaining quantities, risk assessment, etc.
  • Forecast values at completion

Consolidated analysis

Actual and forecast profit margins, costs and income can be analysed per individual contract or consolidated by zone, business unit, contracts’ manager, or by project manager. The following information is available from this report:

  • Budgeted profit margin
  • Profit margin on approved extra works
  • Declared profit margin (ERP or similar)
  • Forecast final profit margin (updated and recorded for each period)
  • Variation between the budget and forecast final profit margins
  • Final forecast values based on actual costs (current costs to date) and on projected costs
  • Base contract budget
  • Budget for approved extra works
  • Variation between budget and final forecast (base contract and extras)
  • Cumulative actual costs
  • Forecast cumulative amounts (based on budget)
  • Work done to date (with detail) – “Degree of completion”
  • Variance between actual and forecast amounts
  • Over/under invoiced amounts
  • Value of un-invoice-able actual and forecast work done.
  • Value of forecast expenditure on un-adjudicated items
  • Un-approved extra Works.
  • Period actual amounts
  • Period forecast amounts.
  • Period variance between actual and forecast amounts

The above data can be analysed in accordance to two hierarchies:

  • Ledger groups, Ledger codes (cost codes) , Bill Code, Task
  • Bill Code, Task, Ledger group, Ledger codes (cost codes)

Period analyses

The values of any period can be accessed directly, and the period unit can be defined as: yearly, biannually, quarterly, monthly or weekly (if applicable) The following information is available from this report:

  • Graph of values for the last 13 periods
  • Final margins (forecast margins vs. budget margins)
  • Work done to date (with detail) – “Degree of completion” (profit taken vs. DC)
  • Variances between actual and forecast cumulative values
  • Variances between actual and forecast period values
  • Outstanding invoicing (costs, income and margin)
  • Extra works (approved and unapproved)
  • Cumulative amount of cost variation by resource groups
  • Period amounts of cost variation by resource groups
  • Value of forecast expenditure on un-adjudicated items
  • Forecast margin on un-adjudicated items
  • Weight of margin of un-adjudicated items on forecast final margin
  • Margin on items that have been adjudicated but have not yet done

Evolution over time (time value graphs)

The evolutions of value over time are presented in actual values for elapsed periods and forecast values for future periods as follows:

  • Forecast budgeted costs
  • Forecast budgeted invoicing
  • Forecast budgeted margin
  • Actual costs to date
  • Actual invoicing to date
  • Actual margin to date
  • Forecasted costs to completion (including extra work items)
  • Forecasted total invoicing at completion (including extra work items)
  • Forecasted margin at completion
  • Variance in costs
  • Variance in invoicing
  • Variance in margin

Highlighting of Values

It is useful to be able to highlight the more significant variation in value, and the value above which the variance amounts are highlighted can be set by the user to assist in identify the real problem areas and thus speed up the analysis at hand.

Controlling Tasks

If control has been implemented by Task code, then the following data becomes available:

  • Actual production quantities
  • Planned production quantities (if linked to the Planning program)
  • Forecast final quantity
  • Variance between the actual and forecast (to date) quantities
  • Average allowable rates
  • Average actual rates
  • Average forecast rates
  • Variance between average actual and allowable rates
  • Variance between average actual and forecast rates
  • Graph of task production over the last 13 periods
  • Various filters and sorting criteria can be specified for the above analysis

Controlling Resources

If the ERP (or accounting system) provides data about the resources used or received to date, then it is possible to analyse with precision the source of the cost over/under runs detailed as follows:

  • Actual consumed resource quantity
  • Allowable resource quantity
  • Forecast quantity
  • Variance between the allowable and actual quantities
  • Actual amount of consumed resources
  • Allowable resource amount
  • Forecast resource amount
  • Variance between the actual amount and the allowable amounts
  • Actual resource usage per production unit (PU)
  • Allowable resource usage per PU
  • Forecast resource usage per PU
  • Variance between the actual and allowable resource usages per PU
  • Actual average resource unit rate
  • Allowable average resource unit rate
  • Forecast average resource unit rate
  • Variance between the actual and allowable average resource unit rates
  • Various filters and sorting criteria can be specified for the above analysis

Operational Requirements

For CTime to run, a few simple steps should be followed in Candy:

  • Record the production quantities (the actual quantities)
  • Record the claimed quantities
  • Update the final quantities
  • Update the resource cost rates as necessary
  • Update the cost worksheets as necessary
  • Introduce the variation orders
  • Progress and update the Construction Program as necessary