This module allows you to forecast quantities, values and resources, using information from Budgeting and Production, together with the Planning of the project. It compares the authorised costs with the costs incurred and the respective projections up to the end of the project.
Specifications
• Integration of the Estimate with the Planning Program, to obtain immediate forecasts
• Detailed analysis of forecasts
• User-defined control Codes for "with", "what" and "where"
• Analytical Summary to the level of the control Code, and combinations of these
• Import of Actual Costs
• Monthly reconciliation of Actual and Estimated allowable Costs
• Forecast of final and remaining Actual Cost amounts
• Financial and Technical Information.
Integrating the Bill of Quantities with the Schedule
The Candy System facilitates the integration of the Estimate with the Program. Items from the bill of quantities can be assigned to the corresponding activities in the schedule. The total quantity of a bill item can be assigned to one, or a part of, an activity, or can be distributed to several activities, or parts thereof. Several items can be distributed to single activity, or parts of the activity. Activities can also be assigned to the items.
Forecasts for the Bill of Quantities and Resources
Once linked, financial and technical information from the Estimating and the Valuations (Production Control) can be forecast over time. The forecasts include each item's quantity, resources and cost- accounting amounts distributed over time. Per activity forecasts are also available.
Summarise into Project Codes (With, What, & Where)
Budget Control provides very detailed and pertinent information. CANDY allows the user to group bill items and resources into one or more cost control codes to summarise costs by control code, or a combination of several codes. The three levels of project control, standardised for the Construction Industry, are populated with available resources (with), location (where) and activity control (what).
Global forecast of cost codes (When)
Additionally, using information generated with the link from Planning to Budget, it is also possible to arrive at the control of "when".
In short, it is possible to control "what" (what work) is being carried out, "where" (location) it is being worked on, "with" which (resources) are being used, and "when" (timing) it will be carried out.
Base Forecast
Once an initial forecast has been defined, it can be saved as a baseline against which project progress can be assessed. Forecasts can be updated periodically at user-defined intervals as data is obtained that relates work performed / work to be performed.
Estimated monthly costs
Each month, the actual quantity of the work performed is updated for each bill item, creating the monthly production valuation report (commonly known as the production certificate). The estimated allowable for the work performed to-date, is used in the Cost and Allowables module, for the comparison with the actual costs to-date.
Planning program updates will suggest the schedule progress quantities for the bill items, and these can be compared to the actual quantities introduced in the Valuations.
Obtain Actual Costs
On site, in each period, the actual costs are to be recorded against their consumption in the control codes for "what", "with", "where" and "when". These actual costs will then be compared with the allowable costs that result from the production. If available, the actual costs can also be imported from a file that has been created in other systems that are able to record these costs (the enterprise accounting system).
Technical information
In addition to financial information, CANDY can also create technical information such as total quantity of resources and total man hours for each of the different project codes. This is very important information to enable the site management team to make important decisions.
Simplification of Forecasting
Once the link between the Bill of Quantities and the Programme of Works has been established, forecasting throughout the project is simple.
A complete analysis of all forecasts can be obtained quickly. The monthly update of the items in the bill of quantities and the activities in the planning program will automatically update the CANDY forecasts and the Cost and Allowables module.