{"id":817,"date":"2020-01-02T11:27:14","date_gmt":"2020-01-02T11:27:14","guid":{"rendered":"https:\/\/www.technostruct.com\/blog\/?p=817"},"modified":"2023-06-02T10:00:55","modified_gmt":"2023-06-02T10:00:55","slug":"4-cost-management-workflow-enhancements-to-simplify-the-change-process","status":"publish","type":"post","link":"https:\/\/www.technostruct.com\/blog\/2020\/01\/02\/4-cost-management-workflow-enhancements-to-simplify-the-change-process\/","title":{"rendered":"4 Cost Management Workflow Enhancements to Simplify the Change Process"},"content":{"rendered":"

The architectural, engineering and construction (AEC) industry is increasingly adopting digital processes to enhance its efficiency and flexibility of getting the job done even when in a competitive environment. According to a recent study conducted by KPMG shows that approximately 31% of all the construction projects fall within the 10% of the predicted budget, which means there is an urgent need of having better tools to help construction teams improve how they control construction cost and manage change.<\/p>\n

BIM 360 Cost Management was launched earlier this year which aimed at helping teams to be able to better manage all cost-related construction activities. The software allows the users to have better control over the project\u2019s financial workflow allowing them to focus on the process of building. Here are 4 enhancements designed to help automate and simplify the change process that will make life easier for its users and help them to manage the work with clarity and precision:<\/p>\n

Workflow-Based Actions<\/strong><\/p>\n

Having a good understanding of the change process to move items through the system is not required today as now with selectable BIM 360 cost management workflows-based actions the user can advance through the system with options for the next step available to take. Earlier the process was more of guesswork, but now it is more intuitive, streamlining the flow and making the software easier for teams to adopt and manage information.<\/p>\n

Flexible Generation of Supplier Change Orders (SCO)<\/strong><\/p>\n

With the addition of workflow-based actions, the users will now be able to generate Supplier Change Orders (SCOs) only after they transition to a specific status- eliminating any confusion and after making the process clear. While generating an SCO, the user will be able to easily generate a single SCO by selecting the checkbox next to the cost item within a parent, or more parents. If the users want to generate an SCO, they will only be promoted from a Potential Change Order (PCO) with a budget and cost status of Open, a Proposed Request for Quote (RFQ), an Accepted Request for Change Order (RCO), or an Approved Owner Change Order (OCO).<\/p>\n

Customizable Tab Naming<\/strong><\/p>\n

This update will remove any confusion by giving access to the project admins to customize the default sub-tab names (Cost Items, PCO, RFQ, RCO, OCO, SCO) within the Change Order tab. This level of customization will enhance the users\u2019 workflows by incorporating the terminology they already use into their system.<\/p>\n

Fundamental Forecasting Functionality<\/strong><\/p>\n

The addition of new columns in the Budget & Contracts tab will allow the users to make forecast adjustments, view forecast variances and forecast final costs in the forecasting functionality in Cost Management.<\/p>\n

Here are some additional usability improvements in the Cost-Management Workflow:<\/p>\n