Model multiple iterations of cost estimation to understand cost drivers and validate estimates for multi-billion dollar capital projects.
In an environment of multiple stakeholders, tens of thousands of line items, ever increasing expectations of accuracy, and exacting version control standards, PCG Solutions’ Cost Estimation Tracker is an essential planning tool for any large capital project.
In our experience, Estimating Teams often resort to spreadsheets in order to fill the gaps left by existing estimating software solutions. This uncoordinated and high-risk approach offers no access control, no ability to work easily in teams on the same estimate at the same time, poor data backup practices, and other risks typically associated with standard spreadsheet solutions.
To address these risks, PCG Solutions has created a cloud-based Cost Estimation Tracker which offers:
- Configurability;
- Easily managed access controls;
- Collaboration capability;
- Version control to manage workflow and lock down final estimates (any changes made to locked estimates will be visible in change control logs);
- Rigorous data back-up.
PCG Solutions has also improved reporting functionality, allowing each cost item to be rolled up into alternate cost hierarchies. Changes between versions are automatically reconciled and reported on.
Key features
- Roll up costs into various user-defined categories (e.g. Labour vs Materials, Geographic location, Responsible project manager)
- Automate variance reporting between estimate versions
- Control access control and manage collaboration with a full audit trail of changes
- Export estimate summaries to spreadsheets for distribution to stakeholders who do not have access to the solution
Benefits
- Store multiple versions of estimates
- Maintain a comprehensive audit trail, allowing the Estimate Team to roll back changes
- Improve the speed of estimate turnaround through collaboration capability and automatic reporting
- Eliminate risk of data loss through solution-managed backups