4castplus 3i – August 1st, 2014
This release of 4castplus delivers robust management of Labor Banked Time and Paid Overtime for organizations that manage the Human Resources side of their internal labor force. Further additional new features include the ability to switch the project metrics view (for budget, actual and earned value analysis) on the project dashboard. Please read through below to learn more. And be sure to click on the screenshots to get a better understanding of where and how to find these features.
AREA: Project Reporting
New: Project Metrics Toggle
Additionally, there have been new values that have been added:
- Requisitioned. This is the total value of all Procurement Requisitions
- Committed. This is the total value of all Committed Purchase Orders.
- Incurred. The total value of all received items
- Invoiced. The total value of all approved/attested vendor invoices
- Accrual. The liability to vendors for items received but not yet invoiced.
- Work In Progress. For billable projects. This is the sum of all un-billed revenue.
AREA: Labor Resource Management
Banked Time Management
- Capability to define Banked Time policy for the company and to input the hourly and weekly hours of work that will generate Banked Time
- Capability to input opening Banked Time and Vacation Accrual balances and to identify the periodic vacation accrual required
- Provision of ‘canned’ Hourly and Overtime Rate Types with ratio calculation fields
- Provision of ‘canned’ overhead work packages for Banked Time/Time in Lieu and Vacation in order to calculate and track applicable hours.
- Update of workflow in Timesheets to capture any hours > 40 Regular hours to be tracked as Overtime [commonly referred to as our Compound Rate workflow]
- Provision of Banked Time and Vacation Accrual tracking and reporting
- Visibility at the user level into accrual balances.
There is also an additional HR Report in the Business Intelligence Reporting area. This report summarizes all the accrued and paid banked time or paid overtime balances over a time period.
Click on the screenshots to the right to get some insight into the various areas affected by this new feature.
New: Specify Quantities in Time-Phased Budget Planning
You can now specify Quantities as a method to time-phase your resources in an estimate. This provides a third way to time phase:
- By percent
- By Total Amount
- By Quantity
The quantity can be any unit of measure – the unit (or, “Rate Type”) will be whatever unit is being used on the resource in the detail estimate. So, if it’s labor hours that is being used in the estimate, it will be labor hours used in the time phased plan.
AREA: Project Procurement Management
New Bars added to Procurement Dashboard Chart
In order to provide a more complete visual picture of the state of your construction project procurement planning and actuals, there are now two additional bars to the dashboard chart.
- Requisitioned. This represents the total value of all material, equipment or contractor services that have been requisitioned. This includes all items that have or have not been allocated to purchase orders or requests for quote.
- Issued RFQs. This represents the value of all items that have been allocated to requests for quote that have then been issued. These issued RFQs may or may not have been awarded to vendors and converted to purchase orders.
There’s More of Course
Many more Usability Enhancements and Bug Fixes have also gone into this release that are designed to make managing construction projects easy and rich with powerful features.
To learn more about this software upgrade and more, please feel free to email us at email@example.com or sign up for a free live demo of 4castplus.