Candy Valuations provide continuity between Estimating and the Post Tender commercial control. All the information used to price the tender is immediately available at post-award. All Post Tender commercial functions can be carried out by site based staff using the facilities within the Valuations module.
The tender information can be remodelled rapidly to reflect situations that have arisen since the tender was submitted. Buying savings and subcontract revisions can be incorporated into the project. New budgets and forecasts can be prepared quickly and accurately.
Allowances can be copied from the estimate to the subcontract adjudicator for comparison with quotations received after the contract has been awarded. The selected subcontract rates can be transferred back to the main contract document.
Monthly applications for payment are produced by entering either a cumulative progress quantity or a percentage complete against changed bill items. The progress quantity build up can be recorded using measurement sheets. The available progress quantities are Claimed, Paid and Actual, and a number of derived quantities, such as Quantity to Completion, are also provided.
Adding variation items to the original contract document is simple. They can either be priced using free-format analytical worksheets from the estimate, or modified as necessary, or built up from first principles. Alternatively, you may enter a split rate if the full breakdown is not required. All items can have both internal and external rates.
Bill items can be collected under one or more Project Reporting codes to produce summaries based on these codes either singly or in combination. The three industry standard approaches to controlling a construction project are catered for, being resource based, location and task orientated control. The information can be produced in a format compatible with the site costing system or can be exported to a spreadsheet or accounting system for the preparation of the monthly operating statement.
The Report Manager produces presentation-quality reports for external use and a wide range of standard reports provide detailed analyses for internal use.
Items can be copied from both the Subcontract Adjudicator and the Valuation Bill to the Subcontract Liability module. As variation items are entered on the bill, they can be added automatically to the liability document.
The integration of Estimating and Planning enables monthly forecasts of both cost and value to completion to be generated using the unique link between time and money.
In addition to catering for financial control of the construction project the Valuations module provides essential engineering information as a by-product of the valuation process. Full analytic detail of the budgeted use of resources for any part of the project or code structure can be produced. This type of information is particularly useful when working in conjunction with a client on a Partnership or Open Book type project when the method of carrying out the work is a joint decision and all details are to be declared.
Using the Valuations module usually results in the site commercial team interacting with estimating and providing valuable feedback. This feedback provides a competitive advantage to many enterprises involved in estimating and the management of construction projects.