4castplus Intelligent Cost Codes

Cost code planning and reporting play significant roles in project controls on large projects. 4castplus enables extremely powerful cost code management capabilities with its Intelligent Cost Code System.

With the breadth of project controls capability that’s covered in 4castplus, every aspect of a project can be managed and coded in the same software system. Everything in 4castplus has the capacity to be coded by any user-defined cost-code structure. Here are some examples of items that can be codified in 4castplus:

  • Program
  • Project (Area)
  • Phase
  • Workpackage
  • AFE
  • Resource Category (Discipline)
  • Resource Class (Sub-Discipline)
  • Material Resource Item
  • Equipment Resource Item
  • Tag number (serial number)
  • Labor Resource
  • Vendor

Most large projects will define a multi-level cost code structure that includes three or more of the above elements of a project. Some projects have seven or more levels. Planning and reporting around a complex cost code structure can be tremendously labor intensive if the software supporting it doesn’t have intelligent tools to simplify that effort.

The 4castplus Intelligent Cost Code system provides an abundance of tools for planning, management and reporting on project cost code structures. Project controls teams have constant visibility and control on where and how cost codes are applied. This then simplifies the jobs of other teams that depend on the cost breakdown structure set by project controls.

Cost Code Validation

For the procurement buyer, for example, it takes all the guesswork out of where on the CBS to apply materials when adding items to a purchase requisition. They don’t have to worry if the cost code is correct, 4castplus provides all the background validation at every step of the way.

Procurement management software

Cost Code Rules

4castplus provides an easy configuration tool to define how cost codes are to be built.
The project controls team, for example, can setup the Rules for how a cost code string is structured and built.
Project cost control software

The rules enable the user to establish which elements are active in a cost code and in what order they should appear. 4castplus then takes care of the rest. Then once the elements to be utilized in a cost code structure have been input, 4castplus will automatically construct the cost breakdown structure and apply the correct cost code to every resource, workpackage, etc.

Check out the video below for a brief introduction to some of the Intelligent Cost Code features of 4castplus

Pre-Defined Elements and Custom Cost Code Elements

There are the built-in or pre-defined elements such as those mentioned above (project, workpackage, AFE, class, etc.) as well as the ability for users to create custom cost code elements.

Cost Breakdown Structure

Based on the rules and elements defined in the cost code structure, 4castplus will automatically build the cost breakdown structure (CBS) according to those rules.

project cost control software

Cost Code Forecasting and Reporting

4castplus delivers an abundance of reporting and forecasting around the cost code. Users can filter and group according the whole or partial cost code and instantly view historical and forecasted reporting on costs, consumption, location, etc.

Project cost code forecast report