News
4PS Construct: Forecasting Outstanding Costs Against Budget
28-02-2019
Cost Value Reconciliations (CVR) commonly involves a high level of manual intervention and time delays. See how you can stay in budget, control costs versus budget and forecast accurately.
The CVR process generally includes compiling a snapshot of the project and then distributing it out to QS's and Site Managers - waiting on their response which may be in a modified Excel format, and then posting these figures either directly to the GL or to the project manually.
4PS allows you to create the project snapshot, update the forecast figures in a standard format within the system, manages actual progress on projects and then use the updated figures for calcuating updates to the general ledger - all at once without bottlenecks or manual intervention. This can knock days or weeks off the periodic CVR process within your business.
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