Project Controls for Owners

With 4castplus, Owners gain total control and deep visibility into Project Costs and Vendor Performance. 4castplus helps eliminate project surprises and ensures Owners can slash the chances of project cost overruns

Owners and Producers today are more aware of the need for project cost controls on major projects. It’s time to wipe out the surprise of unexpected costs that stack up as a project is coming to a close. For full control and visibility into costs, accruals, remaining cost-to-complete and vendor performance, 4castplus delivers total control and real-time clarity into their projects.

Click to download this whitepaper on Managing Vendor Accruals and Vendor Invoice Matching.

Drive Project Certainty

Total Project Control – In Real Time

4castplus delivers complete visibility and control on all project costs, activities, vendors, accruals and forecasted projections. It’s all cloud and web-based, so your entire project team in all corners of the planet can be updating information concurrently – the project controls and project management dashboards are updated instantaneously delivering the full picture of your project’s health.

Have a look at the following slide show for more information on 4castplus Project Cost Management. You can switch to Full-Screen by clicking the arrows.

Total Unity and One-Touch Data Simplicity

Organizations seeking to reduce the need to re-key data from one place to the next will achieve the control and simplicity of One-Touch data. With 4castplus, information only goes in once; then is used in multiple places for multiple purposes. Collaborate with your project team on estimates, procurement and change orders. Everyone’s looking at the same information all the time – no fear of data being out of date or not in sync. 4castplus is available anywhere and on any device, so you can access it from work, home and the airplane and you’re always in sync.

Continuous Indicators of Project Performance

Knowing what you’ve Estimated to spend along with you’ve Actually spent is powerful by itself; but also knowing what’s Remaining to be spent is where the big value of 4castplus really shines. Having accurate forecast to complete (ETC) numbers along with Cost Variance (CV), Schedule Variance (SV) and Cost Performance Indicators (CPI) provide valuable early indicators of where your project is at and where it’s going. No more surprises at the end of your project that you’re over budget. Find out early if there are any performance issues so you can take corrective action to bring them back on track. 4castplus provides a full forecasting and EVM solution to ensure total clarity into project performance and productivity.

Time-Phased Spend Forecasting

Time-Phased budgeting is critical for cash flow management. Knowing that you have a $500m project is important, but knowing when that $500m is going to be spent really brings it to the next level of project financial planning and cost control. By using real contractual agreements as to when items are planned to be paid for, the project cost engineer is then armed with an accurate timeline that predicts project spend patterns. You can even aggregate many projects together in a Forecast Spend Summary report to gain a month-by-month insight into total project expenditures. 4castplus engineering and construction estimating software is by far the most robust and easy to use system available anywhere. Click here for more…

Vendor Management, Compare and Evaluate Vendors

Vendors are tracked and reported on in multiple ways in 4castplus. Here are some examples.

  1. 4castplus provides Productivity Reporting at all levels of the project, which enables users to gather estimated versus actual productivity metrics on vendors. 4castplus provides hours-per-unit KPIs on all activities and vendor commitments.  Owners can report and compare by vendor, location, project, etc.
  2. 4castplus tracks Committed, Incurred, Invoiced and Accruals for all vendors.  Incurred costs and quantities can be compared against budget and progress at any point in the project’s lifecycle.
  3. 4castplus keeps an auditable history of all changes and revisions initiated by vendors. Using a revision history, owners can monitor the causes and amounts of changes that happen over time.
  4. With 4castplus, Owners can classify and rank vendors according to their performance history
  5. 4castplus also provides a Bid Evaluation system within its RFQ module. This enables Owners to pre-define evaluation criteria for how vendor bids are compared, ranked and awarded.

Integrate Your Enterprise Project Solutions

4castplus has a rich API and import/export features that allow you to integrate data from other enterprise tools such as: MS Project, Primavera, Estimating tools, your ERP and Procurement solutions, Payroll and Materials Management. Bring together your entire enterprise into One Platform that delivers a common project view for everyone.