Cost Management | bizinterface

Cost Management

Earned Value Management System

One of the most important scientific method that Project Management Institute PMI teaches for Project Control is Earned Value Management System (EVMS). Bizinterface follows 32 Guidelines of EIA 748 Standards.

What is the one digit that can tell if you are behind schedule or ahead of the schedule is Schedule Performance Index (SPI). If less than 1 you are behind schedule.
What is the one digit that can tell if we have disbursed more funds than the work done is Cost Performance Index (CPI). If more than one we have disbursed more money than the work performed.

Even Estimate to Complete is the scientific method of calculation based on: Planned Value, Earned Value, Actual Cost and the Budget. On Bizinterface all this contractual and cost management information is automated.

Budget/Estimates

How do you establish budget? Do you keep track of your previous projects’ budgets? Would you like to share the knowledge of unit rates in your geographic region? How about the construction product information? We have it all. We can help you with creating your estimates. Or you can hire Quantity Surveyors on our system to provide estimates for you. Either way we are here as your knowledge source, or access to services.

Get your estimates approved through the system and make it your budget. Your budget is integrated to your contracts and committed amount, so you can have a complete graphical view and Earned Value Management System.

Accounts Payable and Receivable

Accounts Payable and Receivable are primarily a department that polices and tracks with the redundant information that they have no control of. The project officers, like Project Managers, own the information. They approve or disapprove. But that project information is re-entered in the Accounts Payable and Receivable system for the ownership transference. Why should there be any redundancy? Why should there be any entering of data, even at the first time when someone is issuing the invoice, if all such information is in the contract? Bizinterface removes all this redundancy and saves you the labour.

Contracts

Contracts are the primary aspects of any organizations. Mostly those are kept in shelves, safe for access. But if it is not a controlling tool for scope, cost, schedule and quality then it is merely a ‘Reference Document’ and not a ‘Governing Document’. On Bizinterface, contract is an integrated system with the referential clauses. It controls and acts as an agreement, and not merely a document.

Time & Expense Tracking

How do you perform Time Tracking? Do you perform Human Resource planning through project planning? Is that planning integrated to your timesheets to track the actual? Do you track variances in your gross profit without adding work for your accounting department?

You may have expense sheets for expense reporting. But can you answer important strategic questions that are dependent on it without adding work for the accounting department, like: What is your Project Acquisition cost? What is the relationship between Gross profit and Project Acquisition Cost, etc.? Bizinterface hasn’t just created digital sheets. We have tied the information it contains to the places where it provides you with Strategic Perspective.