To view the original press release, please click here: http://www.prweb.com/releases/2012/10/prweb10071600.htm
Managing Unit Price construction projects presents a tremendous number of unique complexities to both owners and contractors. With the latest Unit Price project additions to 4castplus, planning, estimating, tracking, reporting and billing on unit rate and unit progress is now streamlined into a single integrated solution.
Calgary, Alberta (PRWEB) October 30, 2012
Jetsoft Group Inc., a leading global provider of business project software for Contractors, EPC (Engineering, Procurement, Construction Management), Owners and Services firms, today announced their release of a fully integrated Unit Price and Unit Progress Project Solution to their 4castplus Project Cost Management software.
Some may call it “Re-Measurement” or “Schedule of Rates”, and some call it “Unit Price”. No matter what you call it, it is a very common contract type in the world of construction. 4castplus is the first software solution for construction projects to deliver comprehensive, end-to-end technology specifically designed around the distinct requirements of Unit Price contracts.
With this strategic addition to 4castplus, contractors and owners will achieve tangible benefits such as:
- Enhanced Unit-Based Planning: The whole work breakdown structure is now enriched with new properties for measurable units and quantities.
- Unit Cost / Unit Price Estimating. Full detailed construction estimating based on resource quantities – along with unit rates for cost and billing – can be intermingled to build accurate unit costs. Apply optional markup or overrides to determine unit price. View breakdown of unit cost and unit price by resource such as: Unit Cost by Labor, Unit Price by Material, Unit Cost by vendor, etc.
- Bidding/Quotes: In just a few clicks, produce a full printable quote in the style of: Bill of Quantities, Schedule of Rates, Unit-Based WBS, etc. Track bid-win ratios.
- Tracking: With the new addition of a Unit Progress tracking system, users can track daily progress on any unit-based item in a project. Billable items will result in revenue transactions for reporting and billing; and progress on non-billable items will be recorded as progress for multi-level reporting and metrics.
- Reporting: A wealth of Reports that reveal key unit-based performance indicators have been added to augment the already rich project reporting available in 4castplus. Indicators such as: unit-cost/revenue by LEM resource, unit-cost/revenue by vendor, unit-cost/revenue by any level of the WBS and a great deal more.
- Invoicing: With its built-in construction project invoicing system, all billable unit-price transactions that are recorded are immediately available to be invoiced. Users can dramatically streamline the effort of billing on a Unit Priced basis.
- Earned Value Management: As a built-in measurement of progress, the unit-progress tracking system provides an integrated validation of forecasted percentage of completion on any item on a project. 4castplus provides reporting on percentage of progress to compare with percent complete to sanity-check the numbers at all levels.
“The new 4castplus Unit Price (Re-measurement) project – with its integrated estimating, tracking and reporting – is perfect for how we do business,” says Ismail Salameh of Mace Qatar (Mechanical & Civil Engineering and Contracting). “We’d looked for years for a software package that could handle projects centered around Bills of Quantities and Unit Prices from end-to-end but came up with nothing.
4castplus has given us a solution that our industry has been crying out for. We’ve finally found the ideal answer to how we, and most of the construction world, manage construction projects.
The best part is, we are already starting to reap the benefits: 4castplus is giving us new insight into which activities we are the most profitable in; and which activities are better off procured. How exciting to finally learn where your competitive advantage truly lies!”
For more detail information, please have a look at this article: http://4castplus.com//tips-and-tricks-on-unit-price-contracts/.
More on 4castplus
4castplus is the first web and cloud-based solution to offer total real-time Project Cost Management in a single powerful software tool. With its performance-driven features, 4castplus delivers a centralized and streamlined solution to Construction, Energy, Utilities and EPC organizations. Features that include: Estimating, Time-Phased Budgeting, Change Management, Procurement, Real-time Project Tracking & Reporting for LEM, Purchase Order Management, Cash-Flow Reporting, Customer Invoicing, Document Control and Forecasting for Earned Value Management. 4castplus helps companies around the globe get better project results while enhancing their competitive edge; all at a low total cost of ownership that delivers up to 30 times ROI. For more information, please visit 4castplus.dev.globi.ca.
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