Another Project Tracking Solution
There are a number of project tracking tools on the market to choose from these days, and believe it or not, the group at 4castplus has gone ahead and written another one. Seems a bit crazy, right?
Well, as it turns out, it’s not crazy at all. The challenge facing organizations that run complex projects today, is that there aren’t appropriate project cost tracking tools that can capture all the complexities of their projects. Complexities such as:
- The need to capture Labor, Equipment, Materials and Expenses
- The need to handle complex rate types such as multiple units of measure for materials and equipment – in addition to progress rate types such as “Feet of Pipe Installed”.
- The ability to handle multiple billing rate tables
- The need for 3rd party time entry of field-level workers or subcontractors (see the timekeeper video below)
- Built-in cost controls rules that force compliance to a contract or purchase order
- The need to handle a complex, hierarchical work breakdown structure (WBS)
- A means to provide cost information for Earned Value Management calculations
- The need for real-time estimate vs. actuals
The vast majority of project tracking tools on the market are simple “Timesheet” systems that track time-only and are aimed at simple projects. Organizations such as: Construction, Mining, Utilities, and Oil & Gas services companies, all run projects that are far too complicated for a typical timesheet system, or a spreadsheet.
The even bigger reason that we built a project tracking system, is that the 4castplus tracking modules are in fact a means to a very bigger end: which is that 4castplus is a Project Cost Management solution. The project tracking components are not just powerful and easy-to-use cost-capture tools; but they also serve as data entry systems that feed real-time cost and revenue data into that higher-purpose financial tool called 4castplus.
The 2 videos below show the “My Timesheet” and “Timekeeper” project tracking modules. These are both labor-orientated and give a good glimpse into the other modules which are: Equipment, Materials and Expenses. Please enjoy and let me know what you think!
First, the My Timesheet video
Second, the Timekeeper Timesheet Video