Although each project control system (PCS) implementation has its own customized and branded cost management output forms, reports, and dashboards, nevertheless, few cost management reports tend to be common in all construction projects. Part of the PMWeb ready-to-use 150 forms, reports, and dashboards, most of those cost management reports are readily available to use.
For example, there is always a requirement to have a single report that captures all issued invoices against each project grouped by the commitment contract with which they are associated. The report provides an overall summary with the key information of each invoice, whether it was an interim progress invoice or a one-off invoice. In addition, PMWeb comes ready with reports for potential change orders and change orders.
If additional details are needed to be reviewed for any of the submitted invoices, the reader can drill down within the report to check the details of the invoice transaction. The output form should also provide links to all documents associated with the invoice and details of who has reviewed and approved the invoice.
Another important report that comes ready in PMWeb is a report that captures the details of each awarded contract within each project. In addition, the report provides a list of all change orders associated with each contract, whether they were approved, pending approval, withdrawn, or disputed, which get summarized in the report. Further, the details of all interim payment certificate invoices issued against each contract are displayed. The reader of this report can drill down to any specific transaction listed in the report.
Another ready-to-use PMWeb report is the cost worksheet report which summarizes the cost data associated with each project budget, budget request, awarded contracts, potential change orders, change orders, and forecast to complete. The actual cost related to commitment contracts and non-commitments is reported. The cost worksheet is an example of a truly connected cost report.
The report reader can drill down and view the detailed cost worksheet of each of the projects included in the master cost worksheet. All these reports can be configured to only show records with approved status or those with approved and pending status.
Another sample ready-to-use PMWeb report is the Cost Dashboard which is based on the data captured from the different cost management processes that are needed for the project control system. Similar to the other PMWeb reports, the reader of the Cost Dashboard can drill down for more details if needed.
Finally, the data captured from the workflow review and approval tasks for the cost management records and others becomes the basis for monitoring, reviewing, and reporting the status of these tasks to identify any delays in completing those tasks as was originally planned. The report can be configured to report on the workflow tasks by project and by business units. In other words, the report can be filtered to show only those tasks that relate to invoice review and approval.
The content of this article was extracted from the book titled “Let’s Transform: Enabling Digital Transformation of Capital Construction Projects Using the PMWeb Project Management Information System – 2nd Edition” written by Bassam Samman.
The book provides project owners with oversight on how technology available today can support their efforts to digitally transform the management of their projects’ portfolios. For each capital project life cycle stage, PMWeb is used to detail how the relevant project management business processes can be digitalized to enforce transparency and accountability in delivering projects. In addition, MS Power BI was used to show how the real-time, trustworthy data captured in PMWeb can be aggregated, modeled, monitored, evaluated, analyzed, and reported at anytime, anywhere using any device.