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The
Cost Control and Management module begins with the detailed
estimate, which may be created in Convero or input
from an external source. The detailed estimate is cast against
the project coding structure and rolled up to a summary level
for control purposes. The control estimate is grouped into
control packages in line with the project execution strategy.
Incremental approval for expenditures is accommodated by the
creation of funding appropriations. Committed, incurred, expended
and final forecast costs are tracked against each control
package. Reporting of these cost elements occurs at the purchase
order or contract pay item level. Progress is quantified and
reported in the Contract Monitoring portion of Convero.
A change control process accommodates the tracking and reporting
of trends, forecast and project change notices. By integrating
data from the project schedule at the control package level,
cost and cash flows are generated. Cost reports are available
for each of the coding structures. Exception reports highlight
deviations from the control estimate. Online inquiry screens
provide instant access to critical cost data. Full integration
is provided between the Materials Management, Project Accounting,
Construction Support and Engineering Management modules.
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