Cost Control System Ready-to-Go
Posted on: January 10th, 2014 by

Barnaby Mercer

Barnaby Mercer has over twenty-years of experience in project controls, and has worked with some of the world’s largest organizations to improve their project performance. He specializes in analyzing processes and systems to improve the performance of project teams. His recent work involves developing a mission control system to deliver optimized project behavior.

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It’s often easy to delay implementation of a cost control system, in favor of other seemingly more important activities, until a project is well out of the starting blocks. Of all the projects with which Kildrummy has been involved, we have found that cost control systems are most effective when implemented at an earlier stage in the lifecycle of a project. To help you get a cost control system up and running as quickly as possible, we have outfitted Kildrummy® CostMANAGER with a set of standard cost reports that allow you to implement a complete system with minimal time and effort.

The Standard Configuration

Our standard reports are very powerful and highly flexible. They cover all the areas you might expect to see in a ready-to-go cost system, including items such as:

  • Project and budget item columns
  • Document types and document columns
  • Reporting structures (e.g. WBS)
  • Phasing calendars and date ranges
  • Standard functions
  • Template graphical and tabular reports.

To give you an idea of the kind of reports you can expect from our system, here is an example of an Earned Value report, where budget items (or workpacks) are at the detail level and grouped by project:

StdConfigEVReport

This second example is of the Kildrummy® CostMANAGER Standard Cost Report, which shows raw value columns and calculated columns such as Current Budget, Forecast at Completion, and Budget +/- (Variance):

StdConfigCostReport

These are just two examples of the types of reports we include in the standard configuration. We have a wide variety of tabular and graphical reports available. A complete list of standard reports with their associated columns is shown in the table below:

Report Template NameColumn Names
MH = Man Hours
AccrualsAccrual Date, Reversal Date, Accrual Value, Accrual MH
Actual ExpendituresExpenditure Type, Supplier Code, Supplier Description, Document Date, Approved Invoices, Pending Invoices, Total Invoice Cost, Approved Invoice MH, Pending Invoice MH, Total Invoice MH
Budget ChangeStatus, Document Date, Approval Date, Approved Change, Approved Transfer, Total Approved Changes, Pending Change, Pending Transfer, Total Pending Changes
Budget Changes MHStatus, Document Date, Approval Date, Approved Man-Hours Change, Approved Man-Hours Transfer, Total Approved Changes MH, Pending Man-Hours Change, Pending Man-Hours Transfer, Total Pending Changes MH
Budget SummaryControl Budget, Contingency, Approved Changes, Current Budget, Pending Changes, Forecast at Completion, Potential Changes, High Range Forecast, Budget Varience, Budget Varience - High
Budget Summary MHControl Budget MH, Contingency MH, Budget Changes MH, Current Budget MH, Pending Changes MH, Forecast at Completion MH, Potential Changes MH, High Range Forecast MH, Budget Varience MH, Budget Varience MH - High
CommitmentsSupplier Code, Supplier Description, Document Date, Original Contract Value, Approved Contract Amendments, Current Contract, Pending Contract Amendment, Pending Contract Value
Commitment MHSupplier Code, Supplier Description, Document Date, Original Contract MH, Approved Contract Amendment MH, Approved Commitment MH, Pending Contract Amendment MH, Pending Commitment MH
Cost ReportControl Budget, Contingency, Approved Changes, Current Budget, Committed Costs, Approved Expenditure, Accrual, VOWD, Forecast to Complete, Forecast at Completion, Forecast Variance
Cost Report MHControl Budget MH, Contingency MH , Approved Changes MH, Approved Commitment MH, Approved Expenditure MH, Accrual MH, VOWD MH, Forecast to Complete MH, Forecast at Completion MH, Forecast Variance MH
Earned ValueOriginal Budget, Budget at Completion, Planned Value, Earned Value, Actual Cost, CPI, SPI, Cost Variance, Schedule Variance, EAC, ETC
Phased Forecast - MonthlyForecast To Date, Month 1, Month 2, Month 3....
Phased Forecast Override - MonthlyForecast Override To Date, Month 1, Month 2, Month 3....
TimesheetsTimesheet Date, Time-writer Code, Time-writer Description, Man-Hours Cost, Man-Hours

Benefits of using the Standard Configuration

The standard configuration is useful for a variety of projects and companies, including:

  • Single or multiple small projects
  • Large projects in the early stages of approval (i.e. Feasibility, Concept Selection and Pre-FEED) where budgets and resources may be limited and the full scope of the project is unknown
  • Smaller or independent companies wanting to implement industry best practice1 and process
  • Companies performing the owner/operator role for the first time
  • Practitioners, organisations, or industries without a strong project cost management culture
  • Projects that use an EPC or EPCM contracting strategy and have limited requirements

 

StdConfigGraph

 

The standard configuration tracks budgets, changes, transfers, and transactions (including commitments, actual expenditures, and accruals) to provide standard cost, forecast, and earned value reports. You can roll up and down against a WBS to provide summary and detail cost reports.

 

StdConfigDataInput

 

We get you up-and-running with orientation and training that can be adjusted to fit demanding time scales.  We also help populate your database with your WBS and/or CBS and your project budget. You can then customize your reports to include your own headings and company logos.

So, if you need a cost control solution that gets you working quickly, Kildrummy® CostMANAGER‘s standard configuration is what you are looking for. We provide a set of powerful reports based on industry best practice1 which can be used as is or can be configured to contain the data you require. These reports are an excellent foundation from which you can build almost any kind of cost report. Our highly experienced consultants are always available to help you make the most of your cost management solution.

 

Reference:

1 AACEI Professional Resources