The Valuation System provides continuity between Estimating and the Post Tender commercial control. All the information used to price the tender is immediately available at post-award.
- Immediate use of tender information
- Analytical pricing of variations
- Detailed coding structures and analysis
- Subcontract liabilities
- Final and remaining values forecast
- Multiple quantity types
- User-defined document layouts
- Report Writer and data export
- Forecasts through integration with Planning
- Allowance reconciliation by user defined cost codes
The tender information can be rapidly remodelled to reflect situations that have arisen since the tender was submitted. Buying savings, production adjustments and subcontract revisions can be incorporated into the project. New budgets and forecasts can be prepared quickly and accurately.
Rated items can be copied from the estimate to the subcontract adjudicator for comparison with quotations received after the contract has been awarded. The preferred subcontract rates can be transferred back to the main contract document.
Monthly applications for payment are produced by entering either a progress quantity or a percentage complete against progressed bill items. The progress quantity build up can be recorded using measurement sheets. The available progress quantities are Claimed, Paid and Actual, and a number of derived quantities, such as Quantity to Completion, are also available.
Analytical pricing of variations
Adding variation items to the original contract document is simple. They can either be priced using free-format analytical worksheets from the estimate and modified as necessary or built up from first principles. Alternatively, a split rate can be entered if the full breakdown is not required. All items can have both internal and external rates.
Allowable Cost reconciliation
Bill items can be collected under one or more Project Codes to produce summaries for resource based, locational and task-orientated cost, production and quantity analyses.
The information can be produced in a format compatible with the site costing system. Alternatively it can be exported to a spreadsheet or accounting system for the preparation of the monthly operating statement.
The Report Manager produces presentation-quality reports for external use and a wide range of standard reports provide detailed analyses for internal use.
Items can be copied from both the Subcontract Adjudicator and the Valuation Bill to the Subcontract Liability module. As variation items are entered on the bill, they can be added automatically to the liability document.
Forecast to completion
The integration of Estimating and Planning in the Candy System enables monthly forecasts of both cost and value to completion to be generated using the unique link between time and money.
In addition to catering for financial control of the construction project the Valuations module provides essential engineering information as a by-product of the valuation process.
Full analytic detail of the budgeted use of resources for any part of the project or code structure can be produced.
This type of information is particularly useful when working in conjunction with a client on a Partnership or Open Book type project when the method of carrying out the work is a joint decision and all details are to be declared.
Feedback to Estimating
Using the CANDY Valuations module initiates valuable interaction between the site commercial team and the estimating department. Accurate and regular feedback provides a competitive advantage to many enterprises involved in estimating and the management of construction projects.